Investment technology provider MDSnews has the green light to acquire Bourse Data and The Cube Financial Group.
The new company will have 8000 clients and revenue of more than $11 million per annum.
"By joining together we can realise some of the rationalisation benefits and can each offer a better range of services to benefit our Australian and international customers," MDSnews chief executive officer Leon Hyde said.
Wider distribution and cross-selling opportunities will create a more profitable business, according to Cube Financial managing director Wayne Johnson.
Bourse Data general manager Rodney Weston said the merger meant it could reach a wider range of investors.
The deal will be completed once share purchase agreements are finalised and MDSnews shareholders approve it.
The merged group will offer investment software, trading tools, execution services, investor education, portfolio management and advice.
Leon Hinde will become business development executive director, Wayne Johnson will be chief executive officer and Rodney Weston will be chief operating officer.
