Knowledge Technology Solutions plc (“KTS”, “the Company”) Completion of the acquisition of Arcontech Limited Admission of New Ordinary Shares to trading on AIM
Knowledge Technology Solutions plc, a provider of professional market information services in the finance sector, is pleased to announce that its acquisition of Arcontech Limited (“Arcontech”) was completed today following the admission of the Placing and Consideration Shares to trading on AIM.
This follows the announcement, on 3 September 2007 that the Company had successfully completed a placing of 111,111,111 new ordinary shares (“Placing Shares”) to raise approximately Â£930,000 net of expenses in additional working capital and the announcement, on 7 August 2007, of KTS’ intention to acquire Arcontech, the award-winning provider of middleware solutions for institutional, vendor and brokerage customers.
Arcontech is an award winning specialist software company, founded in 1979, specialising in middleware solutions for real time publishing, distribution and aggregation of financial data, which can be integrated into any software platform. It has strong and contractual relationships with a broad base of blue chip customers including major investment banks, data vendors and leading spread betting and Contracts For Difference (CFD) brokerages.
Arcontech’s CityVision suite is highly scaleable, being able to easily accommodate from one to hundreds-of- thousands of users whilst its CityVision’s StarNet components extend the suite to facilitate the immediate, simultaneous and secure delivery of market data to financial institutions via multiple networks and the internet. It can deliver very high message rates with exceptionally low latency.
Dr Marc Pinter-Krainer, KTS’ Chief Executive, said:
“City firms are currently facing unprecedented demands on their market data infrastructure and information technology, particularly in the light of the Markets in Financial Instruments Directive (MiFID) which is expected to come into effect on 1 November 2007.
“The combination of KTS’ proven front end display application MarketTerminal with Arcontech’s award-winning middleware products puts us in the unique position of being able to offer a full product set into this market, which we believe will be highly compelling to new and existing customers.”