OnExchange Mulls Sale of Itself or Buying Spree
VENDOR UPDATE
LEXINGTON, Mass.--After failing in a bid to purchase U.K. derivatives software vendor Rolfe & Nolan, transaction systems vendor onExchange is pursuing a growth strategy that may include buying or being bought by another vendor, says CEO Rich Jaycobs.
OnExchange’s attempt to purchase R&N (TTW, Dec. 23, 2002) fell through at the last minute earlier this year. OnExchange, retaining investment bank Revolution Partners, offered about £12.5 million ($20.8 million), or 83p per share, in July 2002, but
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