The cash payment of £22.50 per ordinary share valued the business at some £70.4m.
‘This represents a key milestone in advancing our international growth strategy,’ said Thomas P. Gallagher, chairman and CEO of MIH.
‘I would like to extend my deepest gratitude to the TISE board of directors for their support throughout the process. I am especially grateful to Anderson Whamond for his steadfast guidance and diligence in completing the transaction and I look forward to working with him through the transition process.
‘We are excited to establish a presence in Guernsey and believe that TISE’s strong reputation and solid business foundation provide MIH with significant opportunity to enhance our offerings and expand our international footprint through investments in TISE’s technology, business development and operational processes.’
TISE is best known as one of Europe’s major professional bond markets. Its qualified investor bond market is a European market leader for listing high-yield bonds, structured finance products and securitisation transactions.
At the end of last year it had more than 4,400 securities on its official list with a total market value of more than £750bn.
‘This acquisition signifies growth of our business and we look forward to collaborating with the MIH team to further strengthen TISE’s credentials as a leading European listing venue,’ said Cees Vermaas, CEO of TISE.
‘With MIH’s endorsement of our strategy, people and position in the European market, we are well placed to accelerate our growth ambitions, broaden our service offering and deliver greater value to our stakeholders.’
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