- Safeguard Scientifics ( NYSE: SFE ) on Thursday announced the acquisition of its partner firm Lumesis by SOLVE Advisors, a market data platform for fixed income securities.
- SFE received $5.3M of initial cash proceeds for its 44% stake in Lumesis.
- The company may receive additional cash proceeds from the final determinations of net working capital and resolution of escrow contingencies.
- SFE will report a gain on the sale of its Lumesis stake in Q3.
- The company has deployed $5.6M to Lumesis - which provides analysis, benchmarking and compliance tools for the municipal bond market - since 2012.
For further details see:
Safeguard Scientifics exits stake in Lumesis