(November 20 – 11:25 ET) – Spectra Securities Software, a provider of wealth management software solutions to the financial services industry, says it has signed an agreement to acquire Redeye Telecommunications Inc., a privately held wireless information distribution software company. The acquisition is expected to be complete before the end of the year.

“This acquisition gives Spectra a unique position in the wireless market by providing actionable market data to advisors and investors,” said John McLeod, president and CEO of Spectra Securities Software. “We’re targeting the initial release at advisors because of their need to be connected to market data 24-seven and collaborate with investors in real-time.”

“We are taking it to the next level by integrating market data, alerts and news with full portfolio management and order management. This information will be available on Web-enabled cellular phones, RIM pagers and Palm Pilots as well as on the Web,” said Erik Seiz, president of Redeye.

Spectra says its mobile offering will feature streaming and delayed quotes. As well alerts based on price, trading volume or news stories will be delivered to an advisor’s Web-enabled mobile device.

According to the company future releases will include enhanced charting, alerts and support for other market data vendors. Ultimately, it says integration of market data with Spectra’s portfolio and order management solutions will offer advisors a complete wireless wealth management solution.

Live demonstrations of Spectra iMobile and the Wealthware software solution can be viewed at the Advisor Forum conference, November 20-21 at the Metro Toronto Convention Centre.