Which Irish banks should you buy?
Northgate Market is an emerging market financial services company, with its flagship product, the Marketo, an automated broker-dealer platform.
It has recently acquired two more firms, Fidus and Marketo.
Its chief executive, Simon McEvoy, said that the two firms had the potential to be a huge source of liquidity for investors.
Northgate is one of a number of Irish firms to buy and sell in the space, with others including Dublin-based Sion and Dublin-listed Hibernian Financial.
However, it has faced some competition from smaller firms.
It recently completed a deal to acquire Fidos, which is based in San Francisco.
In a separate deal, Northgate bought Marketo for €6m.
The company will now be managed by McEvay, and its products will be marketed under the name of the Irish Bankers’ Association.
“We are delighted to have completed a strategic partnership with Fiduses, which we believe will accelerate the development of the market for Irish financial products and services, as well as its strategic alignment with Northgate,” McEvorey said.
The announcement comes at a time of renewed interest in Irish markets.
Last month, the Irish Banking Authority said that it would be working on measures to increase the number of people applying for mortgages, as the market is not as well established as other emerging markets.
This was prompted by a study from financial services firm Sipan showing that just 1% of people in Ireland have bank accounts.
McEvoya said that as a company, he hoped that the move would help to attract more customers to Ireland.
He said that, while Ireland was still relatively new to the financial markets, it had many advantages, including a vibrant market, low unemployment, low capital controls and low borrowing costs.
“Ireland has one of the most robust markets in the world,” McDevoy said.
“It has the most developed banking sector in the EU, a highly diversified banking system and is also one of only a few developed countries where it has an effective banking sector union.”