Enterprise software provider AFS Technologies has announced a cash acquisition of certain assets of Canton, Mass.-based revenue management and billing solutions provider Softrax Corp.

AFS Financial Solutions, a wholly owned subsidiary of AFS, will manage Softrax’s assets. Softrax provides billing for sectors that include Software-as-a-Service, information providers, Internet, research, e-learning and other technology sectors.

The Softrax acquisition is the first phase of a planned expansion by AFS Technologies to broaden its scalable enterprise technology platform and SaaS applications into other industry sectors. Madison Park Group assisted AFS with the acquisition.

AFS enterprise solutions are built in a modular fashion, using service-oriented architecture with re-usable components, and the Microsoft .Net platform. AFS’s technology allows for integration of various AFS application modules with other legacy software.

AFS’s financial statements and business intelligence software will be integrated with Softrax’s billing and Revenue Management software. AFS maintains a software development and technical support facility in Bangalore, India, and should be able to complete the integration objectives rapidly, according to AFS’s announcement.

“AFS’s technology platform and modular solutions will enable us to offer an improved and broader range of integrated solutions to these markets,” said Softrax vice president Jay Waldron in a statement.

AFS will also support, manage and expand the RevenueRecognition.com site to educate finance and accounting professionals on revenue management and related issues.

“We are committed and are looking forward to providing advanced solutions and superior technical support to Softrax’s esteemed customers,” said AFS CEO Kurien Jacob.

For more information, visit www.softrax.com.