Investor Site Takes HOTcopper Reins

Online financial information
provider Bourse Data is to
acquire Australian online investor forum HOTcopper Australia through a share
swap agreement.

The one-for-six share swap takeover deal will see HOTcopper operate as
an independent business unit of Bourse Data from its Melbourne
headquarters. The two companies will pool technology, staff and customer
databases.

HOTcopper, which listed on the Australian Stock Exchange on December 22
last year, provides a forum for investors to interact with each other, to
create a pool of share market information. In its four years, the site has
acquired more than 20,000 subscribers.

While Bourse Data will now have access to one of best patronised
investor services in Australia, HOTcopper chief executive offer Mike
Vallender said that his company will now also be able to fast track its
business plans.

“HOTcopper is focusing on four key revenue streams – online
transactions, membership subscriptions, content licensing and advertising,”
said Vallender. “Bourse Data has much of this already in place with a
proven online transaction and subscription infrastructure, real time market
information and financial content.”

The deal comes a day after Bourse Data announced a AUS$10.01 million
(US$6.59 million) equity deal with Australian financial institution St George Bank.

This non-exclusive arrangement, many details of which are yet to be
confirmed by the companies, will most likely see Bourse Data supplying
investment information to St George’s Quicktrade broking service.

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