New York, New York (PRWEB) March 2, 2011
Snappy Reports announced today that it has acquired Zephyr Financial Technologies in a private transaction. Terms of the deal were not disclosed.
The merger integrates all intellectual property pertaining to Zephyrs front-end analytic engine with Snappy Report's back-end XBRL conversion, filing and reporting platform.
Zephyr’s CEO and Founder Bryan Feinberg has been appointed CEO of the merged company, which will continue to operate as Snappy Reports. Peter Boritz from Snappy Reports will continue to lead the technology development as CTO and Chief Architect. The company plans to ramp up support via the opening of a NY Office. “We want to be accessible and support any integration at the highest level. Peter has designed a Killer Platform and the market opportunity is substantial. Snappy Reports is one of the richest and most complete XBRL products on the market today. We are right at the front line of the expanding the XBRL filing market. It is our vision to build out both a world-class company with a suite of best of class products” commented Bryan. “Our DNA is in the Code”.
“The opportunity is beginning to scale and fully validates the long tail development cycle of XBRL tagging and access technology. We are talking about a Scaling $2B+ Market. Our product has a tremendous amount of intelligence under the hood. Its very smart." Both Snappy and Zephyr have been working together for the past 3 years in the joint development of XBRL based technologies.
About Snappy Reports: A leader in XBRL reporting solutions, is a powerful SAAS based enterprise platform for high throughput applications for financial, government, and publicly traded entities.
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