Deutsche Börse acquired Entory for 110m euros back in 2001. The exchange is now said to be offloading the business in an effort to focus on the development of products and services along the capital market infrastructure supply chain.
As part of the deal, Softlab is expected to acquire 100% of the shares in Entory. The financial details were not disclosed, but reports have suggested the final agreed price is higher than the book value of the company as of December 31 2004, which analysts claim was 32m euros.
Deutsche Boerse is reported to have said that Entory’s 300+ staff will not lose their jobs.
The exchange is also continuing its search for a new CEO after Werner Seifert left the company in May. Chairman Rolf Breuer is also expected to be stepping down by the end of the year after the company’s shareholders objected to its plans to buy the London Stock Exchange.
The deal with Softlab is expected to be completed this autumn.
