Multiactive Software Acquires Controlling Interest in Hong Kong's ABC Data & Telecom

Vancouver-based Multiactive Software Inc., a developer of e-business sales, marketing and customer management software, announced that it will acquire a 70% interest in Hong Kong-based ABC Data & Telecom Ltd. for C $10.7 million in cash and shares. The acquisition of the privately-held company will take place through its Asia Pacific subsidiary, Multiactive Pacific, which also has operations in Singapore and Australia. ABC Data & Telecom develops and supplies mission critical trading software to financial institutions and stock exchanges and has an estimated 70% of the market among the medium to large brokerage firms in Hong Kong. Terence Hui, chairman of Multiactive, said that “Multiactive Software Inc. will be well positioned with this acquisition to form strategic alliances with key players in the Asia Pacific region…through Multiactive Pacific, the company will also have the option to raise capital in the Asia capital markets with this separate entity to fund our expansion in this region.”