Norway's VPS Holding Buys Manamind
ORGANIZATION & STRATEGY
Norwegian market data platform vendor Manamind was sold last week to VPS Holding, the parent company of the VPS Norwegian central securities depository (CSD), for an undisclosed sum.
Manamind chief executive Hugo Sundkjer says that with a 15 percent profit margin on turnover of €1.5 million, "we didn't need cash… we were really looking for a good partner."
And under the terms of the deal, Manamind will operate as a separate company within the VPS group, says Jan Hellstrøm, chief executive of VPS
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