Financial Services Systems, the Pennsylvania-headquartered provider of portfolio management technology, has acquired Spot Systems, the San Francisco-based FX management software firm. Financial terms were not disclosed.

Spot Systems, which was founded in 1983, serves a number of banks across North America, and through its acquisition FSS hopes to both strengthen its presence across North America and expand its product offering.

“The combination of Financial Software Systems and Spot will provide many opportunities for Spot customers to expand their treasury capabilities beyond FX settlements and accounting,” Gerald Thurston, President of FSS, said in a statement. The merger will, according to the firms, provide Spot Systems’ clients with a clear upgrade path for expanded treasury operations.

Fred Goldman and Bruce Nissim, respectively the chief executive and president of Spot Systems, have been retained as consultants to the combined entity.

Founded in 1992, FSS supports FX derivatives, money market instruments, bonds and equities, and interest rate and equity derivatives. The firm’s Spectrum Treasury System provides front-, middle-, and back-office processing, along with a suite of internet portals and web-publishing capabilities.

FSS also provides real-time margining software for broker-dealers, private banking and risk management applications, through its MarginTrac system.