Wilco acquires SUMMIT product line from Computershare

Technology arm of global share registry offloads accounting system to focus on core business.

Wilco International, a software and services provider specializing in outsourcing, e-brokerage and straight-through processing STP, has agreed to purchase the SUMMIT brokerclient accounting system from Computershare Technology Services CTS. CTS is the Australian technology subsidiary of Computershare, a firm that runs share registry businesses worldwide.

The transfer of the product, which results in a one-off gain of A$6.4 million $3.38 million for CTS, will take place over a transition period, with CTS still offering support through Wilco to SUMMIT users. The product is being used in Australia by several leading retail and institutional brokers and is installed in a bureau environment servicing the Australian franchisee of ETrade Australia, Nova...

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