Cape Town - Times Media Group is selling I-Net Bridge for R115m to McGregor BFA, which is owned by Naspers [JSE:NPN]
, according to a SENS report
released on Thursday.
I-Net provides a range of investment products comprising real-time and historical market data.
"I-Net’s future prospects are dependent on being able to compete in a relatively small, proprietary market with major international players," Times Media stated.
"I-Net further requires investment and a global presence to help retain a competitive offering and improve its prospects for sustainable growth."
The deal still needs to get the nod from the competition authorities.
Naspers acquired a controlling stake in McGregor BFA in 1998.
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