GL Trade has acquired CGI Information Systems and Management Consultants Ltd in Tokyo, a subsidiary of the Canadian software and services company CGI, for $6.5 million in cash.
CGI Information Systems and Management Consultants Ltd provides software and services to banks and stockbrokers on Asian Stock Exchanges. The company has 35 employees with an annual turnover of $4 million. The acqusition adds 15 Japanese customers and major international banks to GL Trade's regional customer base. It also opens access to two new gateways in Osaka Stock Exchange and Jasdaq, as well as several new order processing capabilities.
The move expands Paris-based GL Trade's market presence in Asia, complementing its Hong Kong and Singapore operations. GL Trade Japan KK headquarters will now become the firm's largest Asian office, employing 40 staff in total.
Pierre Gatignol, CEO for GL Trade comments: "This acquisition is a key element of our strategy to reinforce our position as a global player. Tokyo is amongst the top three markets in the world making this a significant move towards our objectives."