9th Jun 2015 07:31
LONDON (Alliance News) - Microgen PLC Tuesday said it has acquired Jersey-based Finalysys Ltd, a wealth management software provider for the offshore finance industry, for GBP0.3 million.
In a statement, Microgen said it will integrate Finalysys into its financial systems business.
"A key element of the strategy of the Financial Systems business is to increase the proportion of its revenue derived from wealth management software through add-on acquisitions. This acquisition provides the Financial Systems business with an increased client and recurring revenue base within its core Trust & Fund Administration sector," Microgen said.
In addition, Microgen said it is progressing a number of further "add-on" acquisitions in the wealth management sector.
Microgen shares were untraded early Tuesday in London. The stock last traded at 114.04 pence.
By Samuel Agini; [email protected]; @samuelagini
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