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We didn&#39t hike prices, says Synaptic

Synaptic Systems has accused Financial Options and Kestrel of misleading their members by trying to blame the software provider for recent price increases.

In a recent letter to members, the Misys-owned networks blames the increase in the monthly network fee for Synaptic&#39s Product Research Professional software to £97 from £75, on “difficulties in negotiations”.

But Synaptic says it has not increased its prices and no negotiations took place. Mifas says the letter refers to neg-otiations over internal administrative costs between itself and the networks, even though the letter makes no mention of Mifas.

The letter says: “The network has a licence agreement with Synaptic Systems…We have managed to keep the increase in the monthly price quite low although we are having difficulties in negotiating year on year.”

Synaptic has written to all its customers, describing the networks&#39 letter as “inaccurate and misleading”.

The rise led to 25 firms cancelling subscriptions although 24 have opted to take the software direct from Synaptic for its regular fee of £55 a month.

Synaptic managing director Selwyn Herring says: “We have not held discussions with Financial Options or Kestrel at any level about a price increase.”

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