History
A previous instance of Fusion was owned by Michael Alfant and many of the partners of the current firm. Fusion Systems was founded in 1992 in Tokyo as a subsidiary of Fusion Systems Group of New York. A MBO in 1995 took the company independent. The company's key product was a stock trading system named FOX (Fusion Order eXecution) that was sold to many Tokyo Stock Exchange member firms. Fusion estimates, based on the reported market share of TSE members that used FOX, that it processed between 30-50% of the TSE's total volume at the end of the 90s.
The previous Fusion was subsequently acquired by IMRGlobal for $65M in a mixed stock/cash deal in 1999 .
IMRGlobal itself was subsequently acquired by CGI Group in 2001. The old Fusion unit of CGI was then sold to the French trading systems provider GL Trade in April 2002, who continued to sell and support FOX.
Read more about this topic: Fusion Systems
Famous quotes containing the word history:
“Anything in history or nature that can be described as changing steadily can be seen as heading toward catastrophe.”
—Susan Sontag (b. 1933)
“To a surprising extent the war-lords in shining armour, the apostles of the martial virtues, tend not to die fighting when the time comes. History is full of ignominious getaways by the great and famous.”
—George Orwell (19031950)
“America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.”
—Georges Clemenceau (18411929)