Softbank Ups Share in Ireland's Cognotec
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From an original holding of 10 per cent, acquired in October of last year, Softbank has gained another 7 per cent for an additional investment of $20 million.
"The last few months have demonstrated how Cognotec's leading position in the automated dealing market has hastened the international banking community's acceptance of Web-based trading," claimed Brian Maccaba, chairman of Cognotec.
Maccaba said Cognotec would continue to draw on Softbank Group's expertise in the e-commerce market.
A Web-based service, AutoDeal LITE enhances the trading abilities of dealers. Over 30 banks have already adopted it, says Cognotec.
A partner with Cognotec in FOREXBANK which enables financial institutions to offer own-brand Internet trading services in Japan and Korea, Softbank Group has extensive Internet interests.
Apart from Yahoo! Japan and E*Trade Japan, Softbank Group has shareholdings in Morningstar Japan, InsWeb insurance, E*Loan and OnSale. Yahoo! Japan made news last week when its stock broke the 100 million yen share trading mark in Tokyo.