OMX divests its Australian Banks & Brokers business to GBST

OMX divests its Australian Banks & Brokers business to GBST On August 31, 2005 OMX announced plans to sharpen its focus on marketplaces (exchanges, clearing organizations and central securities depositories) through a divestment of its technology business targeting banks and brokerage firms. As a step in this plan, OMX today signed an agreement with GBST Holdings Limited whereby GBST acquires 100% of Palion, OMXs Australian Banks & Brokers business. Discussions with prospective partners for OMXs Nordic Banks & Brokers business are ongoing and are expected to be finalized before year end. Palion, which was acquired by OMX in 2004, provides systems and services to some 25 Australian brokers and employs 7 persons. The agreement includes GBST assuming full responsibility for the existing Palion customer base and is expected to close in the fourth quarter of 2005. GBSTs acquisition of Palion for AUD 5.1 m is expected to have a marginal impact on OMXs results. For more information, please contact: Paul Bennett, Head of OMX Australia +61 2 8243 2475 Anna Rasin, VP Marketing & Communications +46 8 405 66 12 PDF

In This Story