The new deal between Royalblue and Merrill Lynch is expected to be worth at least $24 million during the next three years, of which $9.5 million represents the investment in the new domestic system in the US.
Under the new deal, Merrill Lynch will also be extending its commitment to the existing fidessa platform for another three years. This deal reflects the culmination of various discussions between the two companies started in 2001.
During that time, Royalblue had agreed to grant Merrill Lynch certain options over ordinary shares in Royalblue conditional upon the deal being concluded.
However, those options lapsed, but due to the strategic importance of the deal, Royalblue will grant Merrill Lynch three-year options excersiable immediately with an exercise prise of £5.50 for 600,000 ordinary shares.
