SilverCloud acquired by Massachusetts software company

SilverCloud LLC, a Portsmouth-based provider of software for financial institutions, has been acquired by TimeTrade Systems of Tewksbury, Mass. – a company that itself was acquired nine months ago by Clearhaven Partners, a Boston-based investment firm.

TimeTrade is a developer of enterprise scheduling software.

The new combined company is being called TimeTrade SilverCloud. Financial terms were not disclosed.

Bill Clark, former CEO of TimeTrade and now CEO of TimeTrade Silver Cloud, said the newly formed company “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.”

Scott Cornell, founder and CEO at SilverCloud and now chief strategy officer at TimeTrade SilverCloud, said the merger “is unparalleled as an opportunity for our business” because it provides “for the continued elevation of customer experience through technology.”

TimeTrade SilverCloud is based in Tewksbury, Mass., with an additional office in Portsmouth.