Divestiture • Software

IRESS Acquires INET BFA Pty

On September 13, 2016, IRESS acquired software company INET BFA Pty from Media24 for 150M ZAR

Acquisition Context
  • This is IRESS’s 11th transaction in the Software sector.
  • This is IRESS’s 7th largest (disclosed) transaction.
  • This is IRESS’s 3rd transaction in South Africa.

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M&A Deal Summary

Date September 13, 2016
Target INET BFA Pty
Sector Software
Buyer(s) IRESS
Sellers(s) Media24
Deal Type Divestiture
Deal Value 150M ZAR

Target Company

INET BFA Pty

Johannesburg, South Africa
INET BFA Pty Ltd. is a provider of financial data feeds and analysis tools. INET Fronteer terminal integrates real-time market data, news, charting and analytics, all in a single interface that is easy to learn and efficient to use.
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Buyer Overview 1

Buyer

IRESS

Melbourne, Australia

Category Company
Founded 1993
Sector Software
Employees1,635
Revenue 600M AUD (2024)
DESCRIPTION

IRESS is an Australian software company specialising in the development of software systems and services for financial markets and wealth management. IRESS was founded in 1993 and is based in Melbourne, Australia.


Deal Context for Buyer #
Overall 14 of 17
Sector: Software 11 of 12
Type: Divestiture 2 of 2
Country: South Africa 3 of 3
Year: 2016 1 of 2
Size (of disclosed) 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 Proquote

London, United Kingdom

Proquote Ltd. is a provider of trading, market data and connectivity solutions. Proquote's coverage includes information on futures, options, commodities, metals and OTC derivatives and features comprehensive fundamentals, charting analytical tools. Proquote was established in 1999 and is headquartered in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-26 Financial Synergy Pty

Melbourne, Australia

Financial Synergy is a privately-owned Australian company providing fund administration software to the superannuation and wealth management industries. Financial Synergy’s software and online solutions are core to the operations of its clients, helping them service members efficiently, address ongoing legislative change and to deliver superior services to their members. Headquartered in Melbourne, Financial Synergy has 126 employees.

Buy AU$90M

Seller Profile 1

SELLER

Media24

Cape Town, South Africa

Category Company
Founded 1950
Sector Publishing
DESCRIPTION

Media24 Ltd. is a publisher with interests in digital media and services, newspapers, magazines, ecommerce, book publishing, print and distribution.


Deal Context for Seller #
Overall 1 of 1
Sector: Software 1 of 1
Type: Divestiture 1 of 1
Country: South Africa 1 of 1
Year: 2016 1 of 1

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