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US firm buys Leeds company - 05/10/08

A Yorkshire software business has been bought by a US company.

Based in Leeds, Applied4 Technology has been sold to American firm RiskMetrics Group Incorporated.

RiskMetrics is quoted on the New York Stock Exchange and provides services to companies in the global financial markets, while Applied4 Technology supplies solutions for investment performance measurement.

Stephen Frazer, of Manchester professional advisers RSM Bentley Jennison, advised on the deal, stating: "In times of financial turmoil it is great to see there are still business opportunities with the USA but the fit has to be right."

The acquisition was officially closed on October 3rd and the Applied4 Technology team will undertake work with the US company immediately from their offices based in Leeds.

Applied4 Technology was established by Mick Brant and former colleagues from Mellon Analytical Solutions, where Mr Brant was the chief executive officer.

One of the firm's products is named Alto and is a performance measurement platform that focuses on issues such as data management.


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