Cambista Technologies, a financial software and services provider, has concluded an agreement to purchase the Europe, Middle East and Africa (EMEA) e-finance business of Brokat, the failed German secure internet banking software supplier.

Cambista secured funding for the deal from Favonius Ventures, a European venture capital firm, which has invested €5.1m ($4.5m) in Cambista. The cash injection from Favonius is supplemented by private funding from members of the management team. The total investment will meet Cambista's working capital requirements and create opportunities to expand the business.