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Open Source Makes Big Gains at the London Stock Exchange

Oct 06, 2009, 14:33 (4 Talkback[s])
(Other stories by Glyn Mody)

"For example, the LSE is not just moving from one application to another, but from running someone else's software to running its own, by buying a company that makes it. One reason: it's massively cheaper:

"Compared to the bill of $65 million for TradElect, MillenniumIT, a Sri Lankan developer, is a bargain at $30 million. LSE gains a 100 per cent shareholding in the company, an offshore development centre (located near Colombo) with 451 specialists (around 300 in the software division) and the technology, which boasts high productivity, flexibility, robustness and considerably lower costs than TradElect."

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