DIFC Investments, the investment arm of the Dubai International Financial Centre, has agreed to acquire the UK-based software licensing and professional services business SmartStream Technologies from TA Associates.
DIFC Investments will acquire SmartStream management and employees in an all cash deal worth approximately GBP200 million. DIFC Investments aims to create a new generation of hosted information and trade processing services, and its intention is that SmartStream will be at the heart of the secure, scaleable trade processing and data management platform it is building.
Omar Sulaiman, chairman of DIFC Investments, said: This acquisition enhances the DIFC’s role in the global financial services industry and further establishes the DIFC as a global gateway for international financial business.