STAR DATA MAY BUY MULTIPATH
By Adnews Staff
Toronto-based Star Data Systems has signed a letter of intent to buy Multipath Business Systems Inc. of Toronto. Under the deal, Star Data will acquire the Multipath on-line, real-time back-office brokerage accounting software system for a maximum of $11 million cash plus an earnout based on future revenues. The move will strengthen Multipath's product development and market opportunities, Multipath president Bruce Ross says in a release. For Star data, it will position the company in the Canadian financial services industry and broaden its core business, Star Data president and CEO Alan Hutton says in a release. Star Data is a supplier of on-line, real-time financial information systems and transaction processing software to the financial services industry. Advertising for Star Data is done by Marshall Fenn Communications of Toronto. The Multipath system is a replacement technology for traditional, overnight batch processing applicaton used by the North American industry.