Completion of acquisition of minority interest in Kx SystemsJune 18, 2019
FD (AIM: FDP.L, Euronext Growth: FDP.I) announces it has completed the acquisition of the minority shareholdings in Kx Systems, in line with the terms announced on 2 July 2018. Completion of the transaction takes the Group’s ownership of Kx Systems to 100% for consideration of $53.8m in cash, which has been paid from FD’s available facilities.
Brian Conlon, Chief Executive Officer of FD, said: “Since we acquired a controlling stake in Kx Systems in October 2014 we have invested heavily to deliver the performance advantages of our combined solutions, branded as Kx technology, to a range of end-markets. We are making exciting progress as we demonstrate our ability to transform our customers’ operational performance by unlocking the value in their data. Full ownership of Kx Systems is an important milestone as we continue to commercialise our technology.”
For further information please contact:
|First Derivatives plc|
Brian Conlon, Chief Executive Officer
Graham Ferguson, Chief Financial Officer
Ian Mitchell, Head of Investor Relations
|+44(0)28 3025 2242|
|Investec Bank plc (Nominated Adviser and Broker)|
|+44 (0)20 7597 5970|
|Goodbody (Euronext Growth Adviser and Broker) |
|+353 1 667 0420|
|+44 (0)20 3727 1000|
FD is a global technology provider with more than 20 years of experience working with some of the world’s largest finance, technology, retail, pharma, manufacturing and energy institutions. The Group’s Kx technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. Kx delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. FD operates from 15 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,400 people worldwide.