Mergers and Acquistions News
Categories: IT Services & Consulting
November 5th 2008, 15:53PM
British security software provider Coexis is set to be acquired by Australian firm Global Banking and Securities Transactions (GBST), it has been revealed.
According to the London-based company the deal is in the process of being finalised and will allow it to continue its expansion plans.
Sunil Shah, chief executive officer of Coexis explained that the takeover will permit the firm to offer its Syn technology to an even wider audience.
He said: "Our Syn technology will provide GBST with a modern, flexible and scalable solution for modelling business processes and bringing future products to market far more rapidly than traditional methods."
The move will also see GBST expand through Coexis' current international client base, Mr Shah added.
Financial details of the acquisition have not yet been revealed.
According to GBST, the firm is a leading provider of securities transaction and wealth management technology.
The firm floated on the Australian stock exchange in June 2005.
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