The
BONY originally bought the company, Rufus, from Royal Bank of Scotland in 1999 and expanded, with the help of
The bank decided the sell the business, said spokesman Ivan Royle, becase "we are not, at the end of the day, a specialist software developer" but realized it could profitably sell the business because "we brought it to a level and capability where it really can support a very broad range of fund structures."
As part of the sales deal, Microsoft will continue to work with Bravura for five years.