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Online Banking Software Vendor Parseq Mulls Takeover Bid

The company's own CEO makes an offer to buy the online software banking outfit.

U.K.-based Parseq, an online banking software specialist and provider of financial sector outsourcing services, said it had received an offer from its CEO, Rami Cassis, regarding a possible takeover.

Parseq issued a brief statement announcing this offer in response to a jump in its share price during morning trading. Shares of Parseq rose by more than 8 percent in morning trading on the Alternative Investment Market, the London Stock Exchange's international market for smaller growing companies.

The company, which is being advised by Canaccord Genuity Limited, said the discussions "are at an early stage and there can be no certainty that an offer will be forthcoming." Cannaccord Genuity is authorized and regulated in the U.K. by the Financial Services Authority.

Parseq was created last year after the reverse takeover of Intelligent Environments by Documetric, which was founded in 2007 by Cassis through the management buyout of the data services bureau of IT outsourcer Atos Origin.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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