The amount was undisclosed.
Aceva had raised at leat $55.5 million in venture backing from Accel Partners, America Online, Clayton Dubilier & Rice, CLearstone Ventures, IdeaLab Capital Partners, Oracle and Sequoia Capital.
From the statement:
Aceva will be marketed as AvantGard Aceva under the AvantGard Receivables brand. In October 2005, SunGard acquired GETPAID to extend the AvantGard suite of liquidity management solutions, offering treasury, receivables and payments solutions for improved management of cashflow, both inbound and outbound, helping companies achieve sustainable liquidity management. AvantGard GETPAID is also marketed under the AvantGard Receivables brand.
SunGard’s AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around treasury, receivables and payments management. The solution helps aggregate data for a single view of cash, helps drive productivity through automation, and helps foster collaboration between trading partners. For more information, visit www.sungard.com/avantgard.
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
(Originally posted 2/16)