Mergers and Acquistions News
Categories: IT Services & Consulting
November 11th 2008, 15:30PM
Swedish software firm Tbricks has secured €4 million (£3.2 million) worth of corporate finance to help it expand in Europe and the US.
The funding, led by DN Capital, will go towards assisting the automated trading software firm and its spin-out company Orc.
Urs Rutschmann, chief operating officer of Tbricks, explained the cash would help the firm push its Genesis package.
He said: "Trading is an arena where speed and scalability really matter, and Genesis is developed to truly deliver on both of these fronts."
Nenad Marovac, managing partner of DN Capital, added that Tbricks is playing a critical role in what he dubbed an exciting and fast-growing market.
The fact that Genesis has already been adopted by many blue chip companies indicates the package delivers what is promised, Mr Marovac stated.
Meanwhile, car dealer Pendragon has announced it is to divest its software arm, Pinewood, for £60 million.
The firm specialises in products for the automotive market.
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