IRESS Limited ( (AU:IRE) ) has shared an update.
Iress Limited has announced a binding agreement to sell its European-based low-latency market data business, QuantHouse, to BAHA Tech Holding AG for €17.5 million. This decision follows a strategic review indicating that QuantHouse would thrive better under a new owner committed to its global expansion. Iress will maintain its traditional market data services and has secured a five-year supply agreement with BAHA to continue providing QuantHouse data feeds into its software. The transaction is expected to be completed by the end of the year, with Iress assisting in the transition for up to 12 months. This move aligns with Iress’s focus on strengthening its core operations in Wealth and Trading & Market Data, while BAHA aims to enhance its portfolio with QuantHouse’s expertise in low-latency real-time market data.
More about IRESS Limited
Iress Limited (ASX:IRE) is a technology company that provides software and services to the financial services industry. Its offerings include trading and market data, financial advice, investment management, superannuation, life and pensions, and data intelligence, serving regions such as Asia-Pacific, North America, Africa, the UK, and Europe.
YTD Price Performance: -20.44%
Average Trading Volume: 154
Technical Sentiment Signal: Buy
Current Market Cap: €816.2M
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