First Derivatives to buy Cognotec?

It hasn't taken other capital markets technology firms too long to realize Cognotec is a hell of a bargain. Latest news has it that First Derivatives, a Newry Ireland based global provider of solutions for Capital Markets, is looking to acquire the troubled foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term company.

In fact, Irish Times reports that First Derivatives already entered into an exclusive agreement with KPMG's receiver for Cognotec to acquire the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term technology provider within days. To me this seems a bit preliminary so perhaps this was leaked in order to have even more firms bid for the company but this also means that this whole process won't take long any way.

It also seems that this transaction would require a leveraged deal or some kind of a shares exchange or a combination of both as First Derivates isn't such a big firm - it reported only a $8,5 million pre-tax profit in 2009.

I'm quire sure this is not the last thing we hear about Cognotec in the following days, updates will follow.