INET BFA

In the South African financial data landscape, a key entity emerged when media giant Media24, a subsidiary of Naspers, acquired I-Net Bridge in 2013. This move was followed by the consolidation of I-Net Bridge with McGregor BFA, creating INET BFA, a business focused on providing financial market data, analysis tools, and research to a range of clients from investment managers to government institutions. Under the leadership of CEO Andrew Philbrick, the company established itself as a leading provider of stock market and company data in Africa, built on comprehensive data and technology. The playbook took a significant turn in 2016. Media24 decided that financial data was no longer a core part of its operations, which were shifting towards online services like e-fashion and digital media. A suitable buyer was found in IRESS, an Australian-based supplier of technology for financial markets. In September 2016, IRESS announced it would acquire INET BFA for a cash price of R149.6 million. This acquisition was a strategic move for IRESS to strengthen its own presence in South Africa, a market it had entered in 2007. The deal saw 118 INET BFA employees transfer to IRESS, integrating their local market expertise with IRESS's global technology platform. By March 2017, the INET BFA brand was fully absorbed, becoming a pillar of IRESS's integrated suite of services in the region.