Coexis, a global provider of software for the securities industry, is in the process of finalizing its acquisition by GBST, an Australian provider of securities transaction and fund administration software for the financial services industry. GBST, quoted on the Australian Securities Exchange (ASX) is Australia’s leading provider of broking software, as well as offering solutions for securities clearing, futures and options processing, and wealth management, which are complementary to Coexis Syn solutions. The company has a strong reputation in the marketplace and is seeking global expansion to broaden its portfolio of products and services.
GBST’s securities transaction processing and client accounting software is used by market participants to process approximately A$130 billion of ASX trades every month and its fund administration software is used to administer funds valued at more than A$150 billion in Australia and the United Kingdom. “Coexis’ Syn~ technology and solutions are unique in offering a globally available, model-based approach to software development, which resolves the fundamental problem caused by technology obsolescence that usually confronts every solutions’ user and provider. Our Syn~ technology will provide GBST with a modern, flexible and scalable solution for modelling business processes and bringing future products to market far more rapidly than traditional methods. This deal would significantly increase GBST’s global reach and expansion via Coexis’ existing international customers, prospects and distribution channels,” said Sunil Shah, chief executive officer of Coexis.
In addition to the Syn~ development technology, GBST would gain immediate access to Syn~ solutions for multi-site, middle and back office securities processing, enterprise-wide reference data management, corporate actions, multi-exchange and multi-CSD (Central Securities Depository). Similarly GBST’s products would be available to Coexis customers and prospects. “This acquisition would further extend the suite of products and services immediately available through GBST’s Broker Services division and significantly expand the scale of GBST’s global operations. GBST recognises the need for further scale in its operations across a broader range of customers. The acquisition of Coexis has the potential to substantially meet this need as well as extend our global reach,” said GBST chief executive officer Stephen Lake.