COR FS looks to tap mobility market with Integra tie-up

COR FS looks to tap mobility market with Integra tie-up

UK-based financial systems outfit COR FS is to acquire thin-client data delivery firm Integra SP in an effort to establish a foothold in the emerging market for enterprise-class mobility software.

News of the prospective sale came as the two firms signed an agreement for technology co-development and sales co-operation.

Integra's Altio Live technology offers a framework for the development of real-time, thin client integration and visualisation software.

COR FS says it will build on Altio’s capabilities in the desktop arena to tap in to demand for the provision of real-time enterprise mobility data solutions to corporate customers.

According to Gartner Dataquest, mobility is fast becoming a mainstream activity in the European market place, with over 80% of companies implementing some type of mobile system.

COR FS claims more than 220 customers for its portfolio of products serving the asset management, investment administration and banking communties worldwide. The company, which grew rapidly by acquisition during 2004, says it has has just delivered its best year of operating results since its formation; resulting in an improvement of over £2m in operating profitability and cash flow on a year-to-year basis.

John Donnelly, CEO of COR FS comments: "By aligning our organisation and product development priorities with the needs of our customers over the last 18 months the company has gone from strength to strength. The positive impact on our profitability has enabled us to consider strategic acquisitions such as the proposed merger with Integra SP."

Financial details of the proposed all-paper share swap have not been disclosed.

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