42 t ransact ions
AcQuIsItIoN of sprEAD INtEllIgENcE to ENhANcE
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ffAstfIll froNt offIcE cApABIlItY ffastfill plc (lsE: ffA), the leading provider of software as a service (saas) to the global derivatives community, has announced the acquisition of software assets known as ‘spread Intelligence’, which contain highly sophisticated spread trading tools. The Acquisition, which FFastFill believes has the potential to
enhance its existing Front Office capabilities, includes two US patent applications and the engagement of the founder of ‘Spread Intelligence’ as a consultant to the Company. The maximum possible consideration payable for the
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Acquisition is £1.5m, payable over a two year period, and comprises £250,000 in cash and the issue of up to 10,232,692 new ordinary shares of 1p each in the Company (“New Ordinary Shares”) at a price of 12.216 pence per share. The initial consideration comprises £250,000 in cash and 5,116,346 shares (“First Tranche of New Ordinary Shares”). Two additional tranches of 2,558,173 New Ordinary Shares will be issued as consideration on each of the next two anniversaries of the Acquisition, subject to the condition that the founder is contracted as a consultant with the Company at the due date for allotment. Hamish Purdey, Chief Executive, commented: “I am delighted
to announce FFastFill’s acquisition of the Spread Intelligence software suite which, once integrated, will significantly strengthen the spread trading capability of our existing Front Office (Trade Execution Services) Software as a Service platform. Our focus now rests on the successful integration of these technologies in to our business and, once complete, I look forward to announcing details of the new, enhanced services FFastFill will be able to provide.” fi
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OCTOBER 2011
www.finance-monthly.com
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