25 Oct 2018
ICON Corporate Finance, a specialist in Technology M&A, has advised IMX Software on its sale to Infinea, a high growth FinTech that is expanding globally from its base in South Africa.
IMX currency trading software solutions are deployed globally in major banking and money service organisations including: Thomas Cook, American Express, ANZ Bank, Bidvest, Credit Suisse, Commerzbank, RBS Group, Moneycorp, Change Group, Rand Merchant Bank, FOREX Bank, Travel Money Group and the Central Bank of Zambia.
IMX is a global leader in regulator-compliant currency trading technology, IMX Software specializes in delivering enterprise-grade software-as-a-service (SaaS) solutions to wholesale banknote dealers, FX retailers and remittance operators in 25 countries and has established offices in London, Johannesburg and Melbourne.
Brian Parker, ICON Head of M&A who led the transaction, said “As a global FinTech, with a leading position in retail and wholesale currency trading, IMX Software appealed to a range of overseas acquirers. Infinea, with its strong African presence in banking and travel technology were looking to expand globally and so were a great fit.”
Bill Tickner, IMX Software CEO said “the acquisition by Infinea represents an exciting new phase for IMX and the team is already contributing to the creation of a larger FinTech solutions and service delivery organisation. Existing customers will be unaffected by this change as the IMX companies in the UK, Australia and South Africa will remain and become part of the Infinea Group.
Fred Baumhardt, Infinea CEO commented that “Infinea is committed to building on IMX’s market leading specialisations and we will expand its financial services offerings, as well as consolidate other FinTech solutions under the IMX Software brand. This will bring all of Infinea’s financial technology innovations under one organisation with a proven track record of service delivery to customers in over 25 countries.”