Borsa Italiana acquires 90% stake in Servizio Titoli

Borsa Italiana has signed an agreement to acquire a 90% stake in Servizio Titoli, which provides administration software and services to listed companies.

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Borsa Italiana acquires 90% stake in Servizio Titoli

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The market operator has built up the majority stake in Servizio Titoli by buying out a number of Italian firms.

The bourse has acquired a 50.5% interest in the unit from Turin-based Byte Software House and also bought out stakes held by Business Solutions, Pirelli and Gemina.

Fiat Group will mantain a 10% stake in the unit.

Servizio Titoli has more than 130 customers and closed 2006 with revenues of EUR9 million.

Financial terms of the Borsa Italiana transactions were not disclosed.

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