TMX to buy Australian credit risk software company

Reuters News
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Posted: Nov 29, 2011 5:34 PM
TMX to buy Australian credit risk software company

(Reuters) - TMX Group, Canada's largest exchange operator, plans to buy Razor Risk Technologies, an Australian company that provides credit risk software to stock exchanges and other financial bodies, for about C$10.2 million.

TMX, which is the target of a C$3.8 billion proposed takeover by Canada's Maple Group, will pay 3.49 cents apiece for the shares of Sydney-based Razor.

The deal provides the exchange operator a point of entry into the risk management sector, TMX said in a statement. (Reporting by Gowri Jayakumar in Bangalore)