Acquisition sparks row as competing ISV weighs in
ISV Fidessa will buy front-office software provider, Latent
Zero for £63m. The deal represents a move by Fidessa to
provide software to the buy-side market and is the first
acquisition since Fidessa announced its intention to move into
derivatives last summer (See FO Week Vol 11 No
Under the terms of the deal, Latent Zero will continue to
operate as a separate entity, while the current management
structure will remain. Speaking on the motives behind operating
Latent Zero as a separate entity, a Fidessa spokesperson said,
"Their focus is very much the buy-side and our focus is
predominately the sell side, so there is little point taking
focus away from the main driver."
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