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KRM22 PLC

KRM22 to acquire post-trade services firm Object+

The software group said the acquisition would expand its market risk solutions to the pre-trade and at-trade areas while also offering direct connectivity to major global exchanges

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KRM said Object+ would also provide a complementary customer base and cross-selling opportunities

KRM22 PLC (LON:KRM) has agreed to acquire Dutch-based risk management and post-trade services group Object+ for around £3mln.

The software group said the acquisition would expand its market risk solutions to the pre-trade and at-trade areas while also offering direct connectivity to major global exchanges.

WATCH: 'Momentum' the key word at KRM22 as it secures new debt facility to support growth

KRM22 pointed out that Object+ would also add a complementary customer base and cross-selling opportunities for its services.

Keith Todd, the group's chairman and chief executive, said the acquisition was “a further strategic step” towards the development of the company’s global risk platform and would provide “even greater momentum” in the market.

The acquisition is expected to complete within three business days of the signing of the agreement.

In a note to clients, analysts at 'house' broker finnCap said the acquisition would add to the company's growing Global Risk product set and cater to market risk in line with the strategy of creating a unified global risk management platform.

finnCap has its target price for KRM22 'under review', with the shares currently trading at 71p, down 5.3% on Wednesday's close.

 -- Updates share price -- 

 

Quick facts: KRM22 PLC

Price: £0.78

Market: AIM
Market Cap: £14.8 m
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