WILMINGTON — Toronto-based KEV Group (KEV) accounting management and online payments software for K-12 schools, has acquired Wilminton-based TRA Inc. Financial details were not disclosed.

After the acquisition, KEV software will be used in more than 16,500 schools in Canada and the U.S., processing more than $3 billion in transactions annually, making it the largest provider of cash accounting management and online payments software in North America.

This acquisition is a major milestone for KEV,” said Bram Belzberg, chair & CEO of KEV Group in a statement.

“TRA is a highly respected technology company recognized by their customers for the strength of their school accounting software solution and their dedication to customer service. Together, KEV and TRA become the market leader in helping parents and schools manage online payments and cash.”

KEV’s School Cash Suite is a web-based platform designed to meet the unique financial needs of K-12 schools and eliminate the challenges of dealing with cash in schools.

TRA’s SchoolFunds Online will join the School Cash Suite as being the only solution available that fully integrates online payments, fee management, school-level accounting, and digital forms into one easy to use solution for administrators, parents and students.

Tom Rickman, founder of Technology Resource Associates said, “We’ve always admired the KEV platform, and look forward to bringing even more value to our clients as a result of this partnership.”