Risk.net

Lombard Risk buys STB Systems for £3 million

Lombard will pay up to £3 million for the London-based company; £1.27 in cash and the rest in shares. STB has three core products: STB-Reporter for regulatory reporting including Basel II; STB-Detector for financial crime detection; and STB-GlobalView, management systems and controls software.STB has more than 100 clients on the regulatory reporting side, and it is this area that Lombard is most interested in, said John Wisbey, chairman and chief executive of Lombard. “We see it as a way of