Simplex Solutions and SMA Software call off merger
12 January 2006 | 5012 views | 0
Financial IT consultancy Simplex Solutions and London-based Swift services provider SMA Software have abandoned merger talks after failing to agree on a structure for the combined entity.
Simplex Solutions Inc - which is the holding company for London-based Simplex Consulting Ltd - originally signed a letter of intent to acquire SMA Software & Consulting in October 2005, and the transaction was expected to close before the end of November 2005.
But in a statement SMA says the parties have discontinued acquisition talks "following the inability to agree a mutually satisfactory structure for the joint venture".
Simon Murby, managing director of SMA, says: "Our discussions with Simplex Inc have not proved fruitful, and for now we plan to continue on our previous organic growth path."