Knowledge Technology Solutions Plc (“KTS”), a leading provider of real-time data distribution and trading systems, has agreed to sell its Market Terminal subscription service information base to Ionic Information in order to cut operating costs and to develop the Arcontech CityVision trading and market data software businesses.
Alpha Terminal is owned by Ionic Information – an established market leader in the private investor software sector and a growing force in the professional marketplace.
Andrew Miller, CEO of KTS, said:
“Market Terminal is an excellent product but lacks market penetration. Its high overheads have been a continual drain on finances so we have decided to focus on our solutions business which offers better opportunities to drive the Group’s growth and profitability. Our solutions business builds on the strategic acquisition of Arcontech and now comprises three main thrusts: firstly, growing the successful CityVision real-time middleware business; secondly, the new CityVision “AXE” retail trading system; and thirdly, “CityVision Direct” which capitalises on KTS’ Market Terminal technology, to deliver streaming market data direct to end-users, as we have done with the successful web portal for Equiduct.
“Having held discussions with all of the leading terminal providers, Ionic demonstrated that they had the product, enthusiasm and commitment to best serve our clients going forward. They had already been providing stiff competition to our offering and have worked with us to provide clients with a very straight-forward migration.”
Martin Stamp, Managing Director of Ionic, said:
“The UK-focused investment and trading sector is a key growth market for us and we are delighted to have this opportunity to offer Alpha Terminal to KTS clients. We are confident that this deal represents an excellent outcome for Ionic, KTS and its clients.”