02 November 2009 News

 

Saxo Bank acquires a 40 per cent stake in Initto

Saxo Bank has acquired a 40 per cent stake in Initto. The company has around 200 employees based mainly in India and Ukraine and the acquisition of Initto is intended to enable Saxo Bank to continue to support and speed up the development of its trading systems.

Since its establishment in 2003, Initto says that it has grown by an average of 50 per cent per year and expects to enhance its service offerings with the support of Saxo Bank as a financial partner. Initto is headquartered in Ballerup near Copenhagen with a representative office in Oslo. Initto will continue to develop software and provide services to its existing client base.