ION nears deal to buy software company Cedacri

Financial data company ION Group is close to buying Cedacri, an Italian developer of banking software, for about €1.5 billion, Reuters reported. ION is said to be in final negotiations after winning the auction that was launched last year. Consultancy Accenture and Italian IT services provider Engineering are understood to have withdrawn their rival bids, according to the report. Cedacri, which is backed by Italian state-sponsored fund FSI, offers cloud services and big data analytics to more than 70 banks.

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