German financial information services firm Vereinigte Wirtschaftsdienste (vwd) has acquired a 73.08% stake in bis börsen-informations-systeme from France's Fininfo. Financial terms of the transaction were not disclosed.
Germany-based bis provides market data technology and securities trading systems to firms including Cortal Consors and E*Trade. Vwd says bis recently acquired Quotrix platform will be re-named vwd TransactionSolutions following the acquisition.
Vwd says bis has 270 employees and expects to report turnover of EUR47 million.
Edmund Keferstein, managing partner, vwd group, says: "We have acquired a company whose products and services perfectly complement the service profile of the vwd group. In the future we can present our customers with a unique offering of integrated services."