STAR DATA FINALIZES ACQUISITION
By Adnews Staff
Star Data of Toronto has closed its deal to buy Multipath Business Systems of Toronto. Under the agreement, Star Data has bought Multipath's on-line, real-time back-office brokerage accounting software system for a maximum of $11 million cash plus an earnout based on future revenue. Former Multipath president Bruce Ross now joins Star Data as vice-president. The agreement strengthens Multipath's product development and marketing opportunities. For Star Data, the deal positions the company in the Canadian financial services industry and broadens its core business. Advertising for Star Data is done by Marshall Fenn Communications. Star Data provides on-line real-time financial information systems and transactional processing solutions to the financial services industry.