Tenfore buys CMS WebView data feed business

Tenfore buys CMS WebView data feed business

Struggling market data technology vendor CMS WebView has sold its data feed business to Tenfore Systems. Financial terms of the deal were not disclosed.

London-based CMS said earlier this month that it had found a buyer for its data sales business. The firm has been struggling for over a year after failing to meet sales targets for its proprietary TDI ticker plant software during 2004 and 2005.

Under the agreement, UK-based Tenfore will assume responsibility for CMS's TDI Feed clients and the clients of PriceView, CMS's browser-based real-time data display application.

Commenting on the sale, Bob Antell, CEO, CMS WebView, says: "We're shifting our focus away from data provision and this deal will make sure our clients continue to receive a high level of service. Tenfore has the flexibility required to carry out a smooth migration process and a personable approach to customer management, which we are confident will benefit the clients."

The companies say they have put in place an operational infrastructure to ensure CMS's clients continue to receive an uninterrupted data service. Tenfore will operate a TDI-based ticker plant from its London-based communications centre to deliver data to clients in the TDI Feed format.

From July 2006, clients will have the option to migrate to the Tenfore API for access to the extended data range. PriceView clients may also migrate to Tenfore's QuoteSpeed, a desktop application for receiving market data.

Gordon Bloor, CEO, Tenfore, comment: "This deal offers significant opportunities for our business and for CMS's clients. With CMS acting as an introducer, we can offer our services to an expanded range of corporate and wholesale clients."

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