GBST advises that discussions are underway in relation to the possible acquisition by GBST of the OMX Palion broking business from OMX Technology Australia Pty Ltd (“OMX”).
GBST currently provides solutions to the Australian broker market for equity transaction traded on the ASX. OMX Palion provides a similar service for equity options. Both GBST and OMX agree there is a logical fit between GBST’s solutions and those offered by OMX under the Palion brand.
The due diligence process is currently being undertaken and GBST is, therefore, unable to provide guidance on the financial impact of the transaction. Assuming the satisfactory conclusion of due diligence, the parties expect the transaction would be completed in November 2005.
GBST will advise the market of any material developments.