Two New England-based technology companies providing software to banks and credit unions have merged.

Tewksbury-based TimeTrade Systems, a provider of omnichannel scheduling software, has acquired Portsmouth, New Hampshire-based SilverCloud LLC, which offers consumer and employee knowledge management systems to banks and credit unions.

The deal comes less than nine months after Boston-based private equity firm Clearhaven Partners acquired TimeTrade. The combined company is now a portfolio company of Clearhaven Partners and will initially be called TimeTrade SilverCloud. Financial terms of the transaction were not disclosed.

TimeTrade offers scheduling software for companies in financial services, health care, retail, technology and education, while SilverCloud provides customer and employee knowledge management software to more than 200 financial institutions.

TimeTrade’s CEO Bill Clark is CEO of the combined company, which now has about 600 clients.

“I am thrilled to welcome SilverCloud customers and employees to TimeTrade,” Clark said in a statement. “TimeTrade SilverCloud together provides technology to enable greater business efficiency for our customers in the areas of enterprise resource scheduling and knowledge management while helping to deliver exceptional customer experience. Furthermore, this investment combines two strong companies with existing shared loyal customers and mutual respect for one another.”

Scott Cornell, founder and CEO of SilverCloud, is now the chief strategy officer of TimeTrade SilverCloud.

“The combination of SilverCloud and TimeTrade is unparalleled as an opportunity for our business,” Cornell said in the statement. “Bill and I share a vision for the continued elevation of customer experience through technology, and TimeTrade SilverCloud is now uniquely poised to deliver exceptional CX solutions to customers.”

TimeTrade SilverCloud will maintain its headquarters in Tewksbury as well as an office in Portsmouth.

Tewksbury-based TimeTrade Acquires SilverCloud

by Banker & Tradesman time to read: 1 min
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