Directors Dealings

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Upaid seeks deposition of Satyam executives

/Directors Dealings

Upaid seeks deposition of Satyam executives

Mobile payments firm Upaid has requested depositions from Satyam executives regarding last week's aborted attempt by Satyam to buy up companies related to its chairman, Ramalinga Raju. Upaid claims this was an attempt to siphon cash out of the business in advance of a US Federal Court jury trial scheduled for June 2009, in which Upaid is seeking up to $1 billion in damages for fraud, forgery and breach of contract by the Indian IT giant.

Turbulent markets drag Finextra50 down to 96.02

/Directors Dealings

Turbulent markets drag Finextra50 down to 96.02

The Finextra50 Financial Technology Index fell 1.54% last week as investors' concerns that defaults on US subprime mortgages could spread to various other kinds of debt affected stock markets worldwide. Bank stocks and companies viewed as exposed to the sector were particularly hard hit. However, several US companies in the index posted strong gains, including Jack Henry and Online Resources.

Finextra50 dips slightly to 99.56

/Directors Dealings

Finextra50 dips slightly to 99.56

The Finextra50 Financial Technology Index closed last week slightly down, with falls in Reuters and Cognizant a major contributor, while many of the index's smaller cap stocks saw steady gains, particularly in Europe.

Apax acquires minority stake in Odyssey Asset Management Systems

/Directors Dealings

Apax acquires minority stake in Odyssey Asset Management Systems

Private equity investment firm Apax Partners France has acquired a minority stake in Swiss wealth management technology vendor Odyssey Asset Management Systems. Details of the deal were not disclosed.

TA Associates leads $200m buyout of Global 360

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TA Associates leads $200m buyout of Global 360

An investment group led by private equity firm TA Associates and including Technology Crossover Ventures and JMI Equity has completed a $200 million buyout of Global 360, a provider of business process management software and services.

Investor group calls for S1 sale

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Investor group calls for S1 sale

A group of investors that own a 7.2% share of fintech vendor S1 Corporation have called for the sale of the underperforming business.

MasterCard delays IPO as CEO recovers from cancer

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MasterCard delays IPO as CEO recovers from cancer

MasterCard is delaying its $2.45 billion initial public offering (IPO) until the second quarter of 2006 after its chief executive officer Bob Selander was diagnosed with prostate cancer.

Pay By Touch raises $60m

/Directors Dealings

Pay By Touch raises $60m

US biometric authentication firm Pay By Touch has raised more than $60 million in new financing.

First Data to spin off Western Union business; keeps US card issuing unit

/Directors Dealings

First Data to spin off Western Union business; keeps US card issuing unit

US e-payments processor First Data is spinning of its Western Union money transfer business, but the vendor has decided to retain its underperforming US card issuing unit.

Peppercoin secures $10m in second round funding

/Directors Dealings

Peppercoin secures $10m in second round funding

US micropayments company Peppercoin has secured $10 million in a second institutional round of funding led by venture capital firm Wall Street Technology Partners and including previous investor Pod Holding.

Nyfix to delist from Nasdaq

/Directors Dealings

Nyfix to delist from Nasdaq

US trading technology vendor Nyfix says its shares will be de-listed from the Nasdaq marketplace after it failed to meet today's deadline to become current in its financial reporting.

Fraud scandal forces Refco to close securities, capital markets units

/Directors Dealings

Fraud scandal forces Refco to close securities, capital markets units

Refco, the US futures and securities broker reeling from the fraud scandal in which its former CEO is accused of hiding bad debts from investors and shareholders, says it is winding down its regulated broker-dealer division, Refco Securities, and has also halted operations at its capital markets business because the unit has run out of cash.

MasterCard plans to go public

/Directors Dealings

MasterCard plans to go public

MasterCard says it plans to hold an initial public offering (IPO) that would give investors a 49% equity stake and voting control of the firm.

Shareholders threaten to derail Misys retention bonus plan - FT

/Directors Dealings

Shareholders threaten to derail Misys retention bonus plan - FT

UK banking systems vendor Misys is facing a major shareholder rebellion over plans to award two senior managers bonuses worth £1.2m each to stop them leaving the firm if they fail to become chief executive, according to a Financial Times report.

Former AIT bosses found guilty of market abuse

/Directors Dealings

Former AIT bosses found guilty of market abuse

Two former senior executives of UK CRM vendor AIT have been found guilty of "recklessly" making misleading statements to investors in a landmark case brought by the Financial Services Authority.

Penson to raise $100m through IPO

/Directors Dealings

Penson to raise $100m through IPO

US securities trading and processing firm Penson Worldwide has filed for a $100 million IPO with the Securities and Exchange Commission.

ID Data to raise £4m

/Directors Dealings

ID Data to raise £4m

UK smart card systems vendor ID Data is to raise £4 million in a share placing and loan note conversion in an attempt to secure the future of the company.

Misys chairman sells shares

/Directors Dealings

Misys chairman sells shares

Misys executive chairman Kevin Lomax has raised close to £330,000 in the past week from the sale of shares in the UK software company.

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