Saxo continues to spread its tentacles. The bank has just taken a 40% stake in Initto, the Danish-owned software and IT services provider. Initto has around 200 employees based mainly in India and Ukraine. Saxo says the acquisition will allow it to continue to support and speed up the development of its various trading systems, while Initto will continue to develop software and provide services to its existing client base.
“The acquisition is in line with our ambition to acquire fully developed businesses and utilize their expertise to develop and strengthen Saxo Bank’s products and services.
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