Newry-based financial technology company First Derivatives has bought US-based technology marketing company Marketing Resources Partners.
The deal is costing an initial cash payment of $4.5m and another $1.5m in shares. An additional deferred payment of up to $14m in cash and shares will be paid, subject to the firm achieving certain profit goals by 2010.
Marketing Resources Partners is based in Philadelphia. First Derivatives said the deal will provide it with a springboard to expand its presence in North America.
It now operates in Europe, North America and Asia and says it can offer global support to its customers on a 'follow the sun' model. This in turn can enable the firm to bid for larger customers.
