2016/10/14

BDA advises Thomson Reuters & Systex on sale of AFE Solutions to N2N Connect

AFE Solutions a subsidiary of

has been acquired by

2016

BDA Partners is pleased to announce Thomson Reuters and Systex Corp (“Systex”), have signed an agreement with N2N Connect Bhd (“N2N”) for the sale of AFE Solutions Ltd (“AFE”). BDA acted as exclusive financial advisor to Thomson Reuters and Systex.

AFE has been a leading provider of financial information and trading software and solutions, for over 25 years. Headquartered in Hong Kong, it has significant operations in Vietnam, Thailand and Macau. AFE has an extensive customer base of regional brokerage firms and Hong Kong and Asian banks. Its product range includes a full-suite of multi-market and multi-instrument platforms for information, stock trading and settlement, and it supports trading and settlement of stocks, warrants, CBBCs, bonds and ETFs, in addition to settlement of options, futures and commodities.

Simon Kavanagh, Managing Director, said “We are delighted to have helped Thomson Reuters and Systex find a new owner for AFE. The acquisition of AFE is a significant step in N2N’s goal of becoming a regional powerhouse in financial trading and information software.”

Paul DiGiacomo, Managing Director, said “This transaction is another successful example of BDA’s expertise in helping multinational corporations with the divestiture of Asian assets to Asian acquirers, and follows on from our recent similar successes with CHS, Sungard and International Paper. BDA helped bring Systex into the business in 2000, and we’re glad to have enjoyed a productive, fifteen year relationship with Thomson Reuters.”

The transaction is subject to a number of conditions, including shareholder approval by N2N’s shareholders, and is expected to close in Q1 2017.

Deal team

About Thomson Reuters Corporation

Thomson Reuters is the world’s leading source of news and information for professional markets with business operations in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). www.thomsonreuters.com

About Systex Corporation

Systex is a leading Taiwan-based information technology (IT) services provider, at the forefront of technology sales, marketing and consulting. Its services span the Asia-Pacific region, with 3,000 employees and 48 branch offices in Taiwan, China, Hong Kong and SE Asia. As a provider of professional “technology services, systems integration services, and outsourcing services”, Systex delivers comprehensive IT applications and infrastructure solutions with the capabilities of international project management and software development and integration. Systex shares are listed on the Taiwan Stock Exchange (symbol: 6214). www.systex.com.tw

About N2N Connect Berhad

N2N is a leading trading software solutions provider in Southeast Asia. N2N markets its core enterprise-wide integrated e-commerce securities trading solutions to local stock broking firms and banks. It also focuses on online transactions, with emphasis in the capital markets. N2N’s products and services range from online trading portals within the stock broking industry, hosting and managing network services, to wealth and risk management solutions. N2N shares are listed on the Kuala Lumpur Stock Exchange (symbol: N2N). www.n2nconnect.com

About BDA

BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Beijing, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011. www.bdapartners.com

BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA’s HK subsidiary is licensed and regulated by the Securities & Futures Commission.

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