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ION plans job cuts after beating Temenos with £1.5bn Fidessa offer

Trading technology is set for change with the combination of London-listed Fidessa and Ireland's ION

Monday, 16 April 2018 at 13:14

ION plans job cuts after beating Temenos with £1.5bn Fidessa offer

Fidessa, the London-listed trading technology company, has accepted a deadline-day bid from Ieland-headquartered ION Group, breaking a previous takeover agreement with Swiss firm Temenos.

For ION, it is a rare opportunity to buy a business that supports trading in the financial markets. Fidessa's technology is used by investment banks and fund managers to trade equities and derivatives.