Profile Software signed an agreement with Globalsoft concerning the acquisition of 70% of Globalsoft shares. This deal, in line with the company’s business plan to further expand and strengthen its leading position in the financial services industry, puts Profile Software at the forefront of the real time data feed market in Greece.
Significant synergies are expected to materialize, such as cost cutting opportunities, acquisition of a leading market share and opportunities for a broader presence in neighboring countries.
Globalsoft has been leading the market of real time data feed over the last years with its Monopoly system, using mainly television and satellite transmission and targeting the banking and financial services industry, as well as private investors and traders.
Globasoft’s turnover for the period between 1/7/2003-30/6/2004 was 1.45 million euro with a net profit of approximately 120.000 euro.
Profile Software introduced its own real time data service, Plexus, in 1997. The services runs over the Internet and Plexus provides real time data over the Internet already has a significant presence in the same market providing stock exchange real data services over the Internet, data processing software, can now benefit from two added data channels, television and satellite transmission.
Once the acquisition process is completed, subject to the approval of the authorities responsible, Profile Software intends to build up the activities of Globalsoft with added value services.