FTIL sells power bourse platform to IEX for Rs 108 crore
Financial Technologies today said it has sold all rights of its technology platform used to run operations of a power bourse to Indian Energy Exchange (IEX) for Rs 108 crore.
By PTI | Updated:
NEW DELHI: Financial Technologies today said it has sold all rights of its technology platform used to run operations of a power bourse to Indian Energy Exchange ( IEX) for Rs 108 crore.
The software platform was being exclusively used by the IEX since 2008.
In a BSE filing, Financial Technologies (India) Ltd said that it has executed a "Perpetual License Agreement" with IEX for granting licence of its application software along with source code for an aggregate "one-time licence-fee of Rs 108 crore".
According to the statement, the said licence is perpetual, irrevocable, non-transferable and non-assignable. Further the conclusion of the said Agreement is subject to completion of customary conditions precedent.
The software platform was being exclusively used by the IEX since 2008.
In a BSE filing, Financial Technologies (India) Ltd said that it has executed a "Perpetual License Agreement" with IEX for granting licence of its application software along with source code for an aggregate "one-time licence-fee of Rs 108 crore".
According to the statement, the said licence is perpetual, irrevocable, non-transferable and non-assignable. Further the conclusion of the said Agreement is subject to completion of customary conditions precedent.
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