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Iress Ltd Completes Acquisition Of Avelo Financial Services


Monday, 9 Sep 2013 07:29pm EDT 

Iress Ltd announced the acquisition of Avelo FS Holdings Limited (Avelo) completed on September 9, 2013, following approval by the UK Financial Conduct Authority (FCA) on August 27, 2013. The acquisition was announced on August 6, 2013 for a purchase price of GBP210 million in cash, funded by a combination of internal cash resources, new debt and an underwritten pro-rata accelerated renounceable entitlement offer (AREO) to raise $206 million. 

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