LogicScope in management buy-out

London, 6 November 2003: Financial technology specialist LogicScope is set to capitalise on its unique position in the market data and STP messaging markets with a series of new ventures, following the recent completion of its management buy-out via Dynamic IT Management Services.

Under the deal, a buy-in management buy-out – known as a “Bimbo” – which was backed by HSBC Structured Finance, managing director Nick Dyne and incoming sales director Pat Dolan took control of the company from its majority investors, which included venture capital fund 3i and Astroiden Data SA, a Swedish investment company.

At the same time, the senior management team of Nick Dyne, Pat Dolan and technical director Brian Cappell, was strengthened by the addition of new non-executive directors John Jessop, former chief executive of Telerate and Gerald Ashley, former central banker and now managing director of risk management company St. Mawgan; Alan Law, who was already a non-executive director of the company, becomes chairman.

"The buy-out has enabled us to concentrate on allocating resources to the growth of the business and capitalise on our existing strong position and knowledge of market data, STP and related messaging technology in the treasury markets," says Nick Dyne. "The knowledge of the markets that the new directors bring enhances those technical skills by adding vital understanding and experience of the business issues."

LogicScope’s financial transaction and messaging products are already deployed in major dealing rooms internationally. Its clients include most of the leading real-time information vendors, the leading foreign exchange trading systems and major financial institutions worldwide. It supports over 200 sites in 23 countries.

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