STOCKHOLM, Sweden, Nov. 24, 2005 (PRIMEZONE) -- On August 31, 2005 OMX announced plans to sharpen its focus on marketplaces (exchanges, clearing organizations and central securities depositories) through a divestment of its technology business targeting banks and brokerage firms.
As a step in this plan, OMX today signed an agreement with GBST Holdings Limited whereby GBST acquires 100% of Palion, OMX's Australian Banks and Brokers business. Discussions with prospective partners for OMX's Nordic Banks and Brokers business are ongoing and are expected to be finalized before year end.
Palion, which was acquired by OMX in 2004, provides systems and services to some 25 Australian brokers and employs 7 persons. The agreement includes GBST assuming full responsibility for the existing Palion customer base and is expected to close in the fourth quarter of 2005. GBST's acquisition of Palion for AUD 5.1 m is expected to have a marginal impact on OMX's results.
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