IRESS continues overseas adventure

The £210m acquisition of UK-based Avelo, announced with its interim result, continues IRESS’s offshore expansion. Jason Prowd dissects the deal.

We often deride companies that make acquisitions – especially ones offshore funded with debt. Too often today's 'compelling opportunity' is tomorrow's 'non-core' write-off. Market data and wealth management software firm IRESS is different. Australia has an extremely sophisticated financial system where IRESS has honed its skills before taking them into Canada and South Africa, each time via a calculated acquisition that never puts the company's financial position at risk (see The Iress money making machine for more).

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