TenFold Corp, the Salt Lake City, Utah software and services company, is paying an undisclosed sum to buy The LongView Group Inc, a provider of institutional portfolio management and trading desk software. The logic of the merger is that LongView’s electronic trading and trade order management expertise will provide a fit with TenFold’s transaction processing and mid- and back-office management skills.
While TenFold anticipates a one-time charge for a write-off of in process R&D in the fourth quarter, it expects a neutral or positive impact on earnings in 2000 and an increasingly positive impact after 2000. Boston, Massachusetts-based LongView employs about 70 staff and has a customer base of blue chip financial institutions. It was sold by Barclays Global Investors, part of the UK banker Barclays Plc.
