Investment Web site iii.co.za has been closed by its London owners, although the local management is to continue developing the business independently as a solutions provider to the finance sector.
GM Tim Huckle says the local company has been renamed Financial Data Solutions, reflecting its new focus on delivering technology solutions to other organisations within the finance sector.
However, current users of the portfolio features from the iii.co.za site will be able to continue using their login details through the Moneyweb Holdings-owned website, Moneyweb.
Huckle says the change comes after the acquisition of the parent company, Interactive Investor plc (UK), by AMP UK as well as the recognition of the need for consolidation of services within the local sector.
Huckle says the data and technology used to build the site will be used to power the Moneyweb-branded service and will also be available to companies wanting to use the services of staff to enable their own solutions.
"We are keen to enter into joint ventures with companies who want our technology and data to, for instance, enable their online investor relations functions," he says, adding that there are a number of applications for which the website`s content can be adapted in the corporate arena.
"These moves are made possible because of an agreement between local management and AMP, the Australian personal finance company who bought over the parent of the local interactive investor operation, Interactive Investor plc," he says.
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