Belzberg up for sale

Belzberg up for sale

Toronto-based direct trading software firm Belzberg Technologies says its board has formed a special committee of independent directors to explore "strategic alternatives" for the company.

In a statement, Belzberg's president, CEO and chairman of the board, Sid Belzberg, says: "Our board of directors believes this is the right time for us to explore our strategic alternatives for enhancing shareholder value and building upon our accomplishments."

Belzberg is thought to have a stock market value of around C$110m. The vendor has struggled in recent years but is now turning in a profit. For the year ending ended December 31 2005 the group's total revenue increased by 27% to C$33.0m, compared to C$25.9m in 2004, with 68% of revenues coming from the US and 32% generated in Canada.

The group's net earnings for the year increased to C$4.1m from a net loss of C$1.4m in 2004.

Earlier this week the company said it was acquiring Nandra Group, an independent direct access service provider on the floor of the Nyse, for $1m.

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