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Iress has announced it has entered into a binding agreement to sell its low-latency market data business, QuantHouse, to Vienna-based BAHA Tech Holding AG for €17.5 million (A$31.4 million), subject to customary adjustments and approvals. The transaction is expected to close by year-end, pending BAHA securing necessary market data agreements to ensure service continuity.
QuantHouse, headquartered in Europe, has been part of Iress’ broader Trading & Market Data division. The decision to divest follows a strategic review within Iress’ transformation program, which concluded that QuantHouse would be better positioned for long-term growth under new ownership with a specific focus on institutional market data services.
Iress will retain its traditional market data services
Marcus Price, Group CEO of Iress, commented, “With our transformation program now complete, Iress is focused on strengthening and growing our core business operations in Wealth and Trading & Market Data. While QuantHouse has been a valuable part of our business, we recognise its future potential will be best realised with an owner committed to investing in its global expansion. We are delighted that BAHA shares this vision and is the ideal owner to support QuantHouse in its next phase of growth. This transition represents an exciting opportunity for clients and employees, and we are committed to ensuring a seamless handover and continued collaboration in the future.”
Under the terms of the deal, Iress will retain its traditional market data services and has agreed to a five-year supply agreement with BAHA to continue receiving QuantHouse market data feeds into its own software offerings. Iress will also provide transitional support for up to 12 months after completion.
BAHA, founded in 1995, is a privately-owned provider of real-time financial data, terminals, and news covering over 12 million financial instruments across more than 150 global exchanges. The company’s portfolio includes the BAHA terminal workstation, a proprietary global newswire, and a consolidated global data feed.
“QuantHouse will continue to operate under its strong brand as an independent unit”
Christian Baha, President and Founder of BAHA, said, “We welcome the QuantHouse team as a new part of the BAHA family. QuantHouse will continue to operate under its strong brand as an independent unit. Combined with BAHA, which includes a comprehensive portfolio of high-end institutional information services, we look forward to expanding together as an innovative company that will revolutionise the high-end institutional financial market.”
QuantHouse has been a leading provider of low-latency, real-time market data for over 21 years and is widely regarded for its technology infrastructure supporting algorithmic trading and compliance requirements.
The divestment marks a clear strategic pivot for Iress as it refocuses on core growth segments while ensuring continued access to institutional-grade market data through long-term cooperation with BAHA.
