Lombard Risk Management, provider of regulatory, risk management and valuation software for the financial sector, has sold its wholly owned subsidiary Independent Valuation and Risk Services (IVRS) to Liffe (Holdings), the subsidiary of NYSE Euronext, for a consideration of some £700,000 plus a deferred consideration element to be calculated based on actual revenues that are achieved from certain named customers over the next year. IVRS reported revenues of £266,270 for the year ending March 31 2007.
In addition, Lombard Risk has signed contracts for the supply of certain software and services, including its Firmament valuation software, to IVRS. These are expected to bring the group a further £450,000 of revenue during the next three years.
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