TFS Buys Beta-- To Sell ILX Clients Back-Office Service
VENDOR STRATEGIES
Thomson Financial Services Inc. has agreed to buy Beta Systems Inc. from Everen Capital Corp. for $63.5 million. TFS says Beta's back office trade processing business complements its retail quote vendor ILX Systems Inc. unit.
Most observers consider the price TFS paid to be high. However, it appears less so when one takes into account assets beyond Beta Systems' retail quote business.
What's more, the acquisition of Beta will help ILX to compete with rival quote vendor ADP--which has previously
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