FINANCIAL TECH BUYS 90% IN UK CO

Mumbai
The Hindu Business Line

Financial Technologies group has acquired 90 percent stake in UK-based collateral management services provider ACE Group for a consideration of $22.5 million. ACE has provided collateral management and other credit support services across 2,000 different warehouses in more than 50 countries, FTL said in a communiqué‚ to the NSE. The buy further strengthen our robust portfolio of technology IP-based solutions for global financial markets, said Dewang Neralla, Financial Technologies Co-Founder and Director.