IMX Software Acquires Business Edge, the South African banking systems specialist
IMX to leverage expertise and intellectual property to develop African and Middle Eastern banknote and travel money markets with established player.
London, UK – 9th February 2012 – IMX Software, the global leader in banknote trading and travel money technology solutions, today announced that it has concluded its acquisition of Johannesburg-based Business Edge, a specialist supplier of business systems and services to financial institutions in Southern Africa. The deal combines two specialist technical teams with common product and domain knowledge, and consolidates IMX’s existing client base in the region which was served by Business Edge as an independent partner since 2000.
Both companies have been providing business systems to the banking and foreign exchange sectors for over 20 years. During this time Business Edge has used IMX Software’s products to provide solutions to clients such as Travelex, Standard Bank and American Express in South Africa, Botswana, Namibia and Malawi. With this acquisition, IMX has now extended its presence to cover UK, Australia and now South Africa giving greater flexibility for the strategic development of its customer support, engineering and project delivery capabilities. Business Edge also broadens the sector expertise of the business through its existing experience and client base in the employee benefits and medical aid sectors.
The ability to enhance the IMX Software products for the African markets is seen as a key opportunity for the merged business. Rob Stansell, Managing Director of Business Edge, commented: “Being an integral part of IMX means we can apply our knowledge of regional requirements directly to the IMX solutions – increasing the flexibility, scale and capability of the products and increasing long term client satisfaction.”
From IMX Software’s perspective, Bill Tickner, CEO, commented that: “In addition to the clear efficiencies of a larger, integrated business, Business Edge’s sector experience, client base and solid reputation for service quality adds significant value to our operational capability and provides the strategic platform to deploy our new Global Trading System (GTS) to new and existing clients in the region over the next five years.”
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