DIFC Purchases SmartStream, Vendor to Open Office in Dubai
LONDON-DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), has purchased UK-based software vendor SmartStream for around £200 million as part of a project to create a new technology infrastructure at DIFC.
The acquisition followed SmartStream's September announcement that it plans to go public after a one-year tenure with its private equity owners TA Associates. The IPO process was postponed as it was decided the DIFC route was the better deal, says
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