Transaction unites two leading software companies driving digital transformation in banking via API connectivity solutions

— Originally posted on Business Wire

TEMPE, Ariz. & BIRMINGHAM, Ala.–()–OceanSound Partners, a growth-oriented private equity firm, today announced that its portfolio company, CFM, has merged with NXTsoft. The combination creates the leading provider of API connectivity, workflow automation, and data analytics software for financial institutions. Simultaneously, NXTsoft completed its previously announced separation from ThreatAdvice, a cybersecurity solutions business. Terms of the transaction were not disclosed.

Together, CFM and NXTsoft deliver API solutions to over 1,800 banks and federal credit unions in North America. CFM integrates teller applications with branch hardware, creating modern banking experiences. NXTsoft helps its customers secure, connect, and optimize their data through integration flows that connect over 75 software applications to over 40 core processors. All products currently offered by both businesses will remain available and supported under their existing brands.

Continue reading the full press release here.