IMX Software Group Limited (IMX), the market-leading technology solution provider to businesses in the banknote and precious metal trading, retail foreign exchange, and travel money market sector announced today that it has agreed terms with a new investor, Holley Holland Ltd (HHL), to support the existing management team in its acquisition of the entire IMX Software business from CPS Group Investments Pty Ltd. The transaction was completed on July 21st, 2014.
Holley Holland Ltd has a strong track record in business transformation consulting within the financial services industry in the UK and US, with a particular emphasis on investment banking, asset management, retail banking and insurance. Complimenting IMX’s proven ability to create, deliver, support and host mission-critical applications for highly regulated global banks and leading money service businesses with HHL’s deep industry knowledge and experienced team is expected to create new opportunities for growth and international development.
IMX’s Managing Director, Bill Tickner, will continue to run the business day-to-day with the existing management team comprising David Phillips, Ian Goodall, Marcus Custance and Mars Miocic, all of whom become shareholders following the transaction. The team will continue to focus on realising the full potential of IMX’s Global Trading System (GTS) portfolio of products targeting the wholesale banknote and retail travel money automation markets whilst exploring new strategic opportunities for growth arising from the involvement of HHL.
Andrew Holley, who will become Chairman of IMX Software Group Ltd, commented “This transaction cements HHL’s strategy to provide an end-to-end client offering. It marries the business driven analytical and transformational work performed by the consulting function with the ability to deliver pragmatic, rapid and cost-effective software solutions to our customers. IMX with its state-of-the-art technology, robust operating platform and highly motivated management team could not have been a better partnership prospect for HHL. We are all delighted with what the strong combination of IMX and HHL means going forward for both our customers and the combined team.”
Following the deal, Bill Tickner commented that “the IMX team is very enthusiastic about the strategic link-up with HHL and the opportunity it brings to fully develop IMX’s market potential with the fast-maturing GTS platform. It also provides the foundations for future strategic product diversification to address new segments of the financial services technology market, where we plan to combine our proven enterprise R&D and tier 1 delivery capability with HHL’s experience in a broad range of financial services products, functions and geographies.”