By @NY Staff
Online investment information provider Multex.com, Inc. announced Monday it would expand its deal with Merrill Lynch HSBC to power the launch of a new investment research service in London.
As part of the deal, Multex will provide Web hosting and power the real-time delivery of Merrill Lynch and HSBC research to English-speaking investors in more than 30 countries.
The London-based service, slated for launch early next year, will be available across Europe, South America, Asia and the Middle East.
Multex, which has headquarters in New York, is hoping the expanded deal would stem the flow of losses incurred in recent quarters.
The company has turned its hybrid model of ASP, technology and content into consistent revenue generators, has been struggling through a spending slowdown on technology and individual investor products and services.
To weather the storm, the company recently laid off approximately 15 percent of its 560 employees and said senior management would take pay cuts. Multex also pulled out of the Sage Online business and downsizing its Multex Investor operations. Multex also hinted at restructuring its international operations.
The Multex.com brands include research arm MultexNET, MultexEXPRESS, Market Guide and Multex Investor Properties.
