City dealing systems specialist Alphameric Plc has made its first incursion into the US market via the acquisition of New York based telephone dealer boards manufacturer Financial Trading Technologies Inc. Alphameric has paid UKP880,000 cash consideration – the asset valuation determined by Price Waterhouse – with a further UKP500,000 deferred over 15 months. Financial Trading designs and manufactures microprocessor controlled personal telephone exchanges which enable dealers to handle calls selected from 40 to 200 lines simultaneously. Aimed at the foreign exchange and bond markets, the device sits on dealer’s desks enabling them to buy or sell at the touch of a pre-programmed button. Turnover for the company in 1987 was $2m and its client list includes Merrill Lynch, Citibank and Bank of Boston. A spokesman for Alphameric says the company plans to market the dealer board in the UK and claims it interfaces well with its own digital distribution system. Financial Trading has a 17,000 square foot manufacturing plant on Long Island which will be used to provide manufacturing support to other Alphameric group companies selling into the US. Alphameric, through its Bishopsgate Systems subsidiary, has an installed base of 2,000 positions in London, North America and Australasia.
