As part of its continuing expansion plans, provider of software for the securities industry, Coexis has announced that it is in the process of finalizing its acquisition by GBST, a provider of securities transaction and fund administration software for the financial services industry.
In addition to the Syn development technology, GBST would gain access to Syn services for multi-site, middle and back office securities processing, enterprise-wide reference data management, corporate actions, multi-exchange and multi-central securities depository. Similarly GBST’s products would be available to Coexis customers and prospects.
Stephen Lake CEO of GBST, said: This acquisition would further extend the suite of products and services immediately available through GBST’s Broker Services division and significantly expand the scale of GBST’s global operations. GBST recognises the need for further scale in its operations across a broader range of customers. The acquisition of Coexis has the potential to substantially meet this need as well as extend our global reach.
Sunil Shah, CEO of Coexis, said: This is a win-win situation for GBST, Coexis, and all our customers and partners. We are excited by the opportunities of joining GBST, which has a strong reputation in the marketplace and extending the benefits of our complementary products to an enlarged customer and prospect base. Together, we expect to become a more formidable organization with a broader range of solutions – for both the retail and investment banking sectors as well as wealth management. We would have greater critical mass and the momentum necessary to expand further on a global scale.