MELBOURNE: Australian technology firm Iress Limited (ASX:IRE) announced Tuesday it has agreed to sell its European market data subsidiary, QuantHouse, to Vienna-based BAHA Tech Holding AG for €17.5 million (A$31.4 million) in cash.
The deal, part of Iress’ strategic transformation program, transfers ownership of QuantHouse, a low-latency market data provider, to BAHA, a privately held financial data company founded in 1995. The transaction includes a five-year supply agreement ensuring Iress retains access to QuantHouse’s market data feeds for its software.
Iress CEO Marcus Price said the sale aligns with the company’s focus on core operations in wealth management and trading. “QuantHouse’s growth potential is best realized under an owner committed to global expansion,” Price said. “BAHA shares this vision and is the ideal partner for its next phase.”
BAHA founder Christian Baha said QuantHouse will operate independently under its existing brand, complementing BAHA’s portfolio of institutional data services. The acquisition is expected to close by year-end, pending regulatory approvals and data-agreement finalization.
Iress, headquartered in Melbourne, provides software for financial services across Asia-Pacific, North America and Europe. BAHA supplies real-time market data and news covering 12 million financial instruments worldwide.