IT&E Buys NextSet Software
VENDOR UPDATE
SYDNEY--IT&E, an Australian systems integration provider, has agreed to acquire NextSet Software, the Palo Alto, Calif.-based vendor of trading solutions headed by Simon Yencken, former CEO of Tibco Finance Technology, officials said last week.
The terms of the transaction were not disclosed, but the companies said payment would mostly be in IT&E stock, based on an earn-out formula relating to the sales of NextSet products. Yencken will be joining the IT&E board as an executive director
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