Nyfix clarifies acquisition strategy
06 May 2008 | 4723 views | 0
US trading systems vendor Nyfix has moved to scotch reports that it is gearing up to merge with two un-named vendors and has stated that it is holding acquisition talks with a number of smaller firms.
The vendor released the statement in response to a report by Reuters that states that Nyfix is in "merger talks with two companies" and the deal would be "roughly the same size as Nyfix in terms of revenue".
The report also says that Nyfix hopes to seal the two deals "in the next two to three months".
Reuters says the comments were made by Nyfix CEO Howard Edelstein.
But in its clarification statement, Nyfix says it has engaged and in some cases continues to engage in discussions with a number of potential acquisition candidates.
"While these companies vary in size and scope, discussions are currently focused on companies that are smaller than Nyfix," says the statement.
The vendor says any discussions it is holding "are in their early stages, and there can be no assurance that any deals will ultimately be consummated".
Last month Nyfix acquired London-based e-trading and FIX messaging outfit Fixcity.