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Talks discontinued between SMA Software & Consulting and Simplex Solutions Inc.

Further to the Letter of Intent (LOI) signed in October 05, SMA Software & Consulting Ltd (SMA) and Simplex Solutions Inc (Simplex Inc) have discontinued acquisition talks following the inability to agree a mutually satisfactory structure for the joint venture. Both companies remain fully supportive of ad hoc co-operation on a partnership basis in the future, if and when market requirements are best served by their joint skill-sets.

Simplex Inc, with HQ in Ontario, Canada, is the holding company for London based Simplex Consulting Ltd (Simplex UK), which focuses on Straight Through Processing (STP) related consultancy. Simplex UK’s core business is to provide project resource, including system selection, project management, business analysis, technical analysis and testing related services.

SMA is the SWIFT Business Partner for the UK, Ireland and Nordic territories, with one of the most technically proficient team of all SWIFT Service Partners worldwide, and hosts one of the very few SWIFT Business Partner Service Bureaux in the EU. SMA’s focus is on all things SWIFT, with the SWIFT Business Partner relationship at the core of the company.

With a solid user base of both direct users and Bureau connected SWIFT customers, SMA is always open to furthering its relationships via appropriate product or service partnerships and hence considered the tie-up with Simplex Inc: "We are eager to grow the business more dynamically over the next five years" says Simon Murby, Managing Director of SMA. "However, our discussions with Simplex Inc have not proved fruitful, and for now we plan to continue on our previous organic growth path. We are comfortable that SMA is still recognized as the market leader in SWIFT services and products, and the most SWIFT focused company from both our customer and SWIFT’s perspectives."