FD Technologies (GB:FDP) has released an update.
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FD Technologies PLC has agreed to sell its First Derivative Business to EPAM Systems for £230 million, a move aimed at sharpening the company’s focus on its AI-driven KX division and creating shareholder value. The divestment, pending shareholder approval, is set to provide funds for KX’s growth strategies and enable a significant return of excess cash to shareholders. Both KX and the First Derivative Business are expected to benefit from this transaction through a strengthened partnership with EPAM and enhanced growth prospects.
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