Thursday, July 28, 2011

Fixnetix mulls over options to sustain further growth

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11 July 2011 - UK trading technology provider Fixnetix has hired advisers to examine its options in a bid to sustain its growth momentum and expand its operations globally, the Financial Times reported.

Fixnetix has grown rapidly in recent years and last month it presented a microchip making trade executions possible in 740 nanoseconds, allegedly the fastest application developed so far.

A source close to the company said that three major options are under consideration. Fixnetix could continue its independent development, sell a portion of the business to a group of institutional and banking customers or find a trade buyers for the entire company. Interested parties are said to include IBM, the London Stock Exchange and Telefonica.

According to financial accounts submitted in June, Fixnetix booked revenues of GBP24.5m (USD39.3m/EUR27.6m), or 62.5% higher, for the year ended this March. Pre-tax profits jumped to GBP730,000 from GBP90,000.

Source Citation
"Fixnetix mulls over options to sustain further growth." Internet Business News 11 July 2011. Gale Power Search. Web. 28 July 2011.
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