Financial Objects Expands with Raft
VENDOR UPDATE
LONDON—U.K.-based banking system vendor Financial Objects is moving into the realm of risk management software with the acquisition of Raft International, according to vendor officials.
Under the financial terms of the deal, each Raft share is valued at £0.06 ($0.10). The risk management firm is valued at £4 million ($7.1 million). The offer comprises £0.06 of a new Financial Objects share, valued at 40 pence at the time of the deal. The deal has been in the works ever since Raft put itself up
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