US investor SR Labs snaps up Belfast firm Wombat
Another US investor has swooped in to make an acquisition in Northern Ireland – the third such deal in just over a week.
Financial data company SR Labs in New York has bought financial technology firm Wombat, also known as New York Stock Exchange Technologies, for an undisclosed sum.
Intercontinental Exchange (ICE) had bought NYSE for $11bn (£6.46bn) in 2013 but had made clear it wished to dispose of the technology arm of the business.
Wombat was the original business which then became known as New York Stock Exchange Technologies after a takeover. It employs around 400 people in Adelaide Street in Belfast.
It began operations in Northern Ireland in 2005.
Srinivasan Ramiah, founder and chief executive of SR Labs, said: "We are excited to make this acquisition and believe that together SR Labs and Wombat will deliver significant increases in performance and value to our combined client base.
"The merged company will be the first choice for market data and market access for financial firms globally. Our focus will continue to be product innovation and customer satisfaction."