Goldenhill International M&A Advisors today announced that it acted as M&A advisor to Media24, a Naspers Company (JSE: NPN), in the sale of its INET BFA business to IRESS (IRE:ASX).
INET BFA is a long-standing financial data business, which has been owned by South African publisher Media24. INET BFA’s products include business to business information solutions sold to financial professionals in the asset management and investment banking sectors, and to professional experts, government, regulators and the media.
IRESS chief executive Andrew Walsh said: “IRESS’ strategy in South Africa is to continue to expand its role as the essential provider of integrated trading, market data and wealth management solutions to existing and new clients. Since entering the South African market in 2007, IRESS has established itself as a competitive and scaled provider with a diversified product and revenue footprint. IRESS has made deliberate investment that supports sustained organic growth over time, and the acquisition of INET BFA is in line with this strategy.”
Commenting on the contribution of Goldenhill to the just completed transaction, INET BNA chief executive officer, Andrew Philbrick said:
“We have worked closely with Goldenhill on this transaction announced today. Their knowledge of the Fintech sector, their experience in successful transactions with IRESS, combined with their experience in the company sale process was invaluable to us. We would recommend Goldenhill to other technology companies that are considering a sale process.”