trending Market Intelligence /marketintelligence/en/news-insights/trending/h19p_djxoxkckhttyerxma2 content esgSubNav
In This List

Australia's FinClear to acquire Dion's core technology assets, targets IPO

Blog

Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050

Blog

Insight Weekly: US election scenarios; borrowing costs rise; commercial REIT fears

Podcast

Street Talk | Episode 100 - KBW CEO offers optimism for bears fearful of bank liquidity, credit

Blog

Insight Weekly: Stocks endure more pain; bank branch M&A slows; debt ratios fall


Australia's FinClear to acquire Dion's core technology assets, targets IPO

Australia-based equities clearing firm FinClear Pty. Ltd. is considering listing on the Australian Securities Exchange in 2019 as it agreed to purchase almost 100% of Dion Global Solutions Pty Ltd.'s core technology assets, The Australian Financial Review reported Sept. 4, citing FinClear Managing Director David Ferrall.

Under the deal, FinClear will acquire two technology products including a post-trade processing system and a trading management and platform system used by planners, advisers and stockbrokers.

The acquisition also includes Dion Australia's local assets, including intellectual property, 20 employees and contracts with financial institutions. Terms of the deal were not fully disclosed.

Ferrall noted that the deal "ensured the continuity" of FinClear's technology systems and brought with it important commercial relationships with large financial institutions.

In addition, the company will embark on a pre-IPO capital raising and tap existing backers to help fund the acquisition.