Iress acquires blockchain platform provider

7 January 2020

Publicly-listed financial services software provider, Iress has maintained its acquisitive stance into 2020 with the acquisition of blockchain communication platform, BC Gateways.

The acquisition, announced to the Australian Securities Exchange (ASX) this week, follows on from the company’s acquisition of market data and trading infrastructure firm, Quanthouse and prior to that of Financial Synergy.

Confirming the transaction, Iress chief executive, Andrew Walsh pointed to demand for cost-effective, automated and compliant technology and said the BC Gateways platform met this demand.

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BC Gateways founder and former APIR chairman, Andy Hutchings Broso said the platform had been launched to drive greater efficiency and accountability in data flows and that the firm was pleased to be joining Iress.

“It means essential pricing, administrative, regulatory and tax data will not only be more efficiently distributed but also integrated into end-user processes,” he said.

The Iress ASX announcement said that the transaction was not market sensitive and had been executed through simultaneous signing and completion effective yesterday.

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