Monday, AFS Technologies Inc., a part of Wells Fargo & Company (WFC) announced that it has acquired certain assets of Softrax Corp.,a provider of revenue management and billing solutions. Softrax's assets, which will be managed by AFS Financial Solutions, Inc, a wholly-owned subsidiary of AFS, were acquired for cash, and funded by AFS's own cash balances.
The Softrax acquisition is the first phase of a planned expansion by AFS to broaden its powerful and scalable enterprise technology platform and SaaS applications into other industry sectors. Currently, over 1,000 customers in the food, beverage, logistics, and supply chain sectors utilize AFS's enterprise software solutions.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.