20 July 2018
Visit www.avoka.com

Australia's GBST to acquire Coexis

05 November 2008  |  5325 views  |  0 handshake

Australian financial software house GBST is to acquire London-based securities tech firm Coexis. Financial terms of the deal were not disclosed.

Privately-funded Coexis is run by former ADP Wilco men Terry Williams and Sunil Shah as chairman and CEO respectively. In September, the company was ranked at number 92 in the Sunday Times Tech Track 100 list after achieving 40.08% compound revenue growth in the past three years and doublings its staff numbers to 100 over the past year.

Atos Euronext Market Solutions acquired a 19.5% stake in Coexis in 2006 with an option to buy the entire company in late 2008. But this deal floundered when the Dutch company was broken up earlier this year and all of the shares in Coexis were bought back by the group's private investors.

Coexis' Syn~ component-based settlement and workflow automation software has been deployed by CLSA, Penson and Mitsubishi among others. It has been applied for multi-site, middle and back office securities processing, enterprise-wide reference data management, corporate actions, multi-exchange and multi-CSD processing.

GBST's securities transaction processing and client accounting software is used by market participants to process approximately A$130 billion of ASX trades every month and its fund administration software is used to administer funds valued at more than A$150 billion in Australia and the United Kingdom.

The company says the acquisition of Coexis will enable it to broaden its portfolio of products and services and propel its global expansion plans.

Sunis Shah, Coexis CEO says: "Our Syn~ technology will provide GBST with a modern, flexible and scalable solution for modelling business processes and bringing future products to market far more rapidly than traditional methods. This deal would significantly increase GBST's global reach and expansion via Coexis' existing international customers, prospects and distribution channels."

Under the deal, Coexis will continue to work with established partners such as Serisys Solutions Limited in Asia as well as correspondent clearers providing white labelled services to brokers.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Penson upgrades multi-client hosting with Coexis Syn~

Penson upgrades multi-client hosting with Coexis Syn~

01 October 2007  |  4379 views  |  0 comments
Atos Euronext invests in Coexis

Atos Euronext invests in Coexis

02 March 2006  |  8976 views  |  0 comments
Coexis hires ADP CTO O'Brien as director, business development

Coexis hires ADP CTO O'Brien as director, business development

10 May 2004  |  6817 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12904 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10338 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9753 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6780 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6583 views comments | 2 tweets | 7 linkedin

Featured job

to GBP £120K base, double ote, benefits
Frankfurt, Germany

Find your next job