CW & Associates – which trades as DataFlow Services – has been acquired by Trintech Group for approximately $5 million. The consideration comprised initial cash consideration of $3 million,150,000 American Depositary Shares (ADSs) issued from Trintech Treasury Shares, with an approximate value of $570,000, and a performance based earn out over two years, which is estimated at $1.5 million. DataFlow provides a data delivery service supporting customer’s bank reconciliation processes. Commenting on the acquisition, Cyril McGuire, CEO of Trintech said, ‘This acquisition of DataFlow is another step in Trintech’s growth strategy in the funds and cash management market.’
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.