Iress is selling QuantHouse to market data provider BAHA Tech Holding in a €12.5 million cash transaction.
The deal is expected to close by the end of 2025.
The decision to sell the low-latency market data business, established in 2005, follows an ongoing strategic review at Iress. Earlier this year, Iress sold its superannuation business to global financial services provider Apex Group. In both cases, the company has stated that it does not believe it is the “ideal owner” for the businesses being offloaded.
QuantHouse serves the low-latency HFT market, competing with providers such as Exegy and Magmio.
Marcus Price, Iress Group CEO, commented: “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.”
QuantHouse will operate as an independent unit at BAHA.
Existing QuantHouse market data feeds will continue to be fed into Iress’s software for five years after the transaction. Iress will continue to provide market data services through its trading and market data business.
A 12-month transition programme will see Iress continue to provide some services to QuantHouse as BAHA assumes ownership.
