First Derivatives buys second firm in two weeks

FIRST Derivatives, the Newry-based technology company, has made its second significant overseas investment in as many weeks with a $10 million (€6.6m) acquisition of New Jersey-based software firm, Reference Data Factory (RDF).

The purchase strengthens First Derivatives’ range of financial data management- related software products and follows the company’s $7.5m investment in one of its US-based sales partners, Kx Systems – taking its stake in the company from 5% to 20% last week.

“In line with our strategy, the acquisition of RDF will further enhance the capabilities and scope of our Delta software suite. RDF has a successful track record of developing enterprise data management software,” said First Derivatives chief executive Brian Conlon.