Irish software and consulting company First Derivatives has bought Dublin-based Cognotec for $4.7m. Cognotec was placed into receivership last month.
The company was founded 20 years ago and has operations in Dublin, London, New York, Singapore and Tokyo. Its foreign exchange pricing AutoDeal+ product is widely used throughout the world.
First Derivatives says it believes the deal will be earnings enhancing in the current year.
'Cognotech's flagship products are complementary to the products in the First Derivatives Delta suite and share a common technology base,' commented CEO Brian Conlon.
'This investment further reinforces our position as one of the world's foremost providers of solutions in the market data and electronic trading arena,' he added.
Shares in First Derivatives closed 5.4% lower at €2.65 in Dublin.
