Iress completes transformation with sale of | Australian Markets
Iress has exited one other business as half of its strategic review course of – this time Euoprean-based QuantHouse.
The transaction completes Iress’ transformation program.
Iress has introduced to the Australian Securities Exchange (ASX) that it has entered into a binding share sale and buy settlement to divest the QuantHOuse low-latency market knowledge business to BAHA Tech Holdings, a Vienna-based market knowledge supplier.
BAHA is to pay Iress $31.4 million in money consideration earlier than prices upon completion and as half of the transaction IRess has additionally agreed to a five-year provide aghreement with BAHA to offer current QuantHouse market knowledge feeds into Iress’ software program.
Commenting on the transaction, Iress chief govt, Marcus Price stated that with the transformation program full, the firm is concentrated on strengthening and growing its core business operations in wealth and trading and market knowledge.
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