Like Allegro Development Corp.

closed 4/17/2019 via BusinessWire

Ion Group, acquired Allegro Development Corp.

synopsis: Vector Capital and Cerium Technology have announced the sale of Allegro Development Corporation, a leading global provider of enterprise commodity management solutions, to ION, a provider of mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments, and corporates.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Vector Capital
target: Allegro Development Corp.
Allegro is a global leader in commodity management software for companies who buy, sell, produce or consume commodities. Allegro delivers position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture.
price ($mm)
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announced 3/2/2022 via BusinessWire

Xpansiv, will acquire APX Inc

synopsis: Xpansiv, the global marketplace for ESG commodities, will acquire APX, Inc., the leading provider of registry infrastructure for energy and environmental markets. The acquisition will strengthen Xpansiv's existing market structure while improving user experience for global clients.
buyer: Xpansiv
Xpansiv is the global marketplace for Environmental, Social, and Governance-inclusive commodities. These commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. "
target: APX Inc
APX is the leading provider of innovative technology and dynamic end-to-end service solutions for environmental commodity and power markets. APX serves a diverse set of clients globally, including standards bodies, regulators, government entities, and non-governmental organizations.
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closed 10/20/2021 via BNC Analysis

Brady plc, acquired Igloo

synopsis: Brady Technologies, a leading British provider of energy and commodities trading, risk and logistics management software, has acquired UK-based Igloo Trading Solutions, a next generation, cloud-native, SaaS trading and risk management platform for European energy markets.
buyer: Brady plc (AIM:BRY:$39.97)
Based in UK, Brady Technologies is a leading provider of energy and commodities trading, risk, and logistics management software that empowers global market participants to trade confidently, profitably and sustainably, now and in the future. "
target: Igloo
UK-based Igloo is a cloud-native SaaS energy trading and risk management platform engineered to meet the needs of traders operating in modern energy markets. Igloo Trading Solutions, the developer of Igloo, is a leading provider of cutting-edge products and solutions for traders in these markets.
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closed 5/12/2021 via BusinessWire

Resource Innovations, acquired Nexant Inc.

synopsis: Resource Innovations, a woman-led energy consulting company, announced it is adding energy services and software firm Nexant, Inc. to the organization. Nexant develops and delivers intelligent grid software, clean energy solutions, and engineering and consulting services to the global energy and petrochemical industries.
buyer: Resource Innovations
Resource Innovations is a woman-led energy consulting company. Resource Innovations was founded by women and uniquely led by an all-women C-suite with decades of industry expertise. "
target parent: TeleSoft Partners
target: Nexant Inc.
Nexant develops and delivers intelligent grid software, clean energy solutions, and engineering and consulting services to the global energy and petrochemical industries. It is a pioneer in developing and advancing technology solutions for the electric power grid and alternative energy.
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announced 5/12/2021 via Company Press Release

Trayport Ltd., will acquire Tradesignal GmbH

synopsis: UK-based Trayport Limited, a wholly-owned subsidiary of TMX Group, will acquire Tradesignal, a leading German provider of rule-based energy trading and analysis solutions. Tradesignal provides traders, portfolio managers, and analysts the capabilities to develop, test, and optimise multiple trading strategies.
buyer parent: TMX Group Inc.
buyer: Trayport Ltd.
Based in the UK, Trayport is the primary network and platform for European wholesale energy markets. Its solutions are used worldwide by traders, brokers, and exchanges in multiple asset classes across OTC and cleared markets. "
target: Tradesignal GmbH
Based in Bremen, Germany, Tradesignal is one of the leading software solutions providers for the international financial and energy market. The company is highly regarded for its development of software solutions for rule-based trading and technical chart analysis.
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announced 8/6/2020 via BusinessWire

Q CELLS, will acquire Growing Energy Labs, Inc.

synopsis: Q CELLS, a leading global solar company, will acquire Growing Energy Labs, Inc. (Geli), a provider of software and business solutions for designing, automating, and managing energy storage systems. Geli’s suite of products creates an ecosystem where project developers, OEMs, financiers, and project operators can deploy advanced energy projects.
buyer parent: Hanwha Solutions
buyer: Q CELLS
Q CELLS is a leading global solar company. Q CELLS manufacturers high-quality solar cells and modules that are extremely reliable and achieve outstanding energy yields. They offer products for residential, commercial and utility use. "
target: Growing Energy Labs, Inc.
Growing Energy Labs, Inc. (Geli) is a provider of software and business solutions for designing, automating, and managing energy storage systems. Geli’s suite of products creates an ecosystem where project developers, OEMs, financiers, and project operators can deploy advanced energy projects.
price ($mm)
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announced 12/24/2019 via BNC Analysis

Energy One, will acquire eZ-nergy

synopsis: Energy One Group, Australia’s leading provider of Energy Trading and Risk Management solutions, will acquire eZ-nergy, an independent software vendor and service provider in France. eZ-nergy provides a robust suite of SaaS solutions for the European energy market. Their eZ-Ops platform makes energy trading and energy flows scheduling easier.
buyer: Energy One (ASX:EOL:$20.02)
Energy One is Australia’s leading provider of Energy Trading and Risk Management ("ETRM") solutions, with software product and service solutions for wholesale and retail energy businesses, including carbon and environmental certificate trading and management needs. "
target: eZ-nergy
eZ-nergy is an independent software vendor and service provider in France. eZ-nergy provides a robust suite of SaaS solutions for the European energy market. Their eZ-Ops platform makes energy trading and energy flows scheduling easier. They also offer 24/7 outsourced operational services.
price ($mm)
$4.44
rev ($mm)
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announced 2/2/2018 via PR Newswire

Ion Group, will acquire OpenLink Financial, Inc

synopsis: Openlink Financial LLC, a global leader in trading and risk management solutions for the energy, commodities and financial services industries, announced that ION Investment Group has entered into a definitive agreement to acquire the company from Hellman & Friedman.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Hellman & Friedman LLC
target: OpenLink Financial, Inc
Openlink is the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries.
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closed 10/5/2017 via BNC Analysis

LDC Limited, acquired Ensek Ltd.

synopsis: UK-based mid-market private equity investor LDC has backed the management buyout of ENSEK, a software supplier to UK energy providers. Headquartered in Nottingham, ENSEK uses its market-leading software-as-a-service (SaaS) platform to provide existing energy suppliers with its revenue assurance and gross margin accounting product.
buyer parent: Lloyds Banking Group
buyer: LDC Limited
LDC is the private equity arm of Lloyds Banking Group, and it is the most active mid-market private equity investor. LDC supports management teams from all sectors and in every corner of the UK from its regional network of nine offices. "
target: Ensek Ltd.
Headquartered in Nottingham, ENSEK uses its market-leading software-as-a-service (SaaS) platform to provide existing energy suppliers with its revenue assurance and gross margin accounting product.
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closed 7/7/2016 via BNC Analysis

Stratean, Inc., acquired CleanSpark LLC

synopsis: Stratean, Inc., the developer of a patented and revolutionary “stratified” downdraft gasifier, announced the company has acquired CleanSpark, a leading provider of engineering, software and controls for innovative distributed energy resource management systems, in an all-equity transaction valued at approximately $36 million.
buyer: Stratean, Inc. (SRTN:$0.00)
Stratean, Inc. successfully designs, engineers, manufactures and patents a revolutionary 'stratified' downdraft gasifier. It has work alongside several partners to create a logical solution for profitability handling MSW, Coal, Plastics, Municipal Sewage and many other feedstocks. "
target: CleanSpark LLC (CLSK:$10.40)
CleanSpark offers advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. CleanSpark's software allows energy generated locally to be shared with other interconnected microgrids.
price ($mm)
$36
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closed 4/13/2016 via Company Press Release

Enegia Group, acquired Intstream OY

synopsis: Enegia Group will buy intStream, a software company operating in the energy market, from the Norwegian company EuroPower. A significant number of Finnish electricity companies uses intStream software for energy market analysis and management of market information, risks and sales contracts.
buyer: Enegia Group
Enegia Group is a consulting company specialized in energy procurement and energy efficiency. It employs over 170 energy experts in Finland and Sweden. Of the total electricity use in Finland, 25 per cent is managed by Enegia. "
target parent: NHST Media Group
target: Intstream OY
intStream is a Finnish ICT company offering products and services that support the decision-making processes of Nordic energy market operators. intStream’s customers consist of electricity companies and energy-intensive industrial enterprises in Finland and the Nordic countries.
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announced 2/4/2015 via Company Press Release

SunGard Data Systems Inc., will acquire Energeya S.r.l.

synopsis: SunGard has announced that it has agreed to acquire the entire share capital of Energeya S.R.L., a provider of high-performance software solutions that support core processes across the energy management value chain for the European gas and power industry.
buyer: SunGard Data Systems Inc.
SunGard is one of the world’s leading software and technology services companies, with annual revenue of about $2.8 billion. SunGard provides software and processing solutions for financial services, education and the public sector. "
target: Energeya S.r.l.
Energeya solutions for energy companies and for high-volume energy consumers automate the whole energy management value chain focusing on forecasting, trading, supply and optimization management, planning, risk, portfolio management and settlement for power, gas, oil, CO2 and renewables commodities.
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closed 1/27/2015 via BusinessWire

Accenture, acquired The Structure Group LLC

synopsis: Accenture, a global management consulting, technology services and outsourcing company, has acquired Structure, a provider of consulting, system integration and customized solutions and services to energy and utilities clients.
buyer: Accenture (ACN:$53,736.36)
Accenture is a global management consulting, technology services and outsourcing company, with more than 305,000 people serving clients in more than 120 countries. Accenture collaborates with clients to help them become high-performance businesses and governments. "
target: The Structure Group LLC
Structure is a provider of business advisory, system integration and customized solution development services focused on the energy and utilities industries. Structure relies on deep industry expertise and proven methodologies to deliver energy technology platforms for the next generation.
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cancelled 1/30/2015 via PR Newswire

CME Group, cancelled an acquisition of FENICS and Trayport

synopsis: CME Group Inc, the world's largest futures exchange operator, will buy derivatives broker GFI Group Inc for two units called Trayport and FENICS, to expand its reach in the European energy and foreign exchange markets. FENICS provides intuitive price discovery software to currency derivative markets and Trayport provides energy trading solutions.
buyer: CME Group (CME:$4,593.10)
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. Their exchanges offer the widest range of global benchmark products across all major asset classes. The CME Globex® electronic trading platform brings buyers and sellers together. "
target parent: GFI Group Inc.
target: FENICS and Trayport
FENICS provides price discovery, analytics, risk management and connectivity services for the global over-the-counter foreign exchange (FX) options markets. Trayport is a leading provider of energy trading solutions to traders, brokers and exchanges worldwide.
price ($mm)[EV]
$415 [$655]
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closed 7/25/2014 via PE Hub

Cerium Technology, Vector Capital, acquired Allegro Development Corp.

synopsis: Vector Capital and Cerium Technology have recapitalized Allegro Development Corporation. Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers.
buyer: Vector Capital
buyer: Cerium Technology
Vector Capital is a leading global private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. "
target: Allegro Development Corp.
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. Allegro’s software provides the global intelligence companies need to manage physical and financial positions.
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closed 11/18/2013 via Company Press Release

Trayport Ltd., acquired Contigo Ltd.

synopsis: Trayport, a leading provider of energy trading solutions to traders, brokers and exchanges worldwide, announced that it had acquired Contigo Ltd, a provider of energy trading risk management (ETRM) services. The company also provides logistics supply chain management and emissions reporting software to the energy industry.
buyer parent: GFI Group
buyer: Trayport Ltd.
Trayport Limited develops real-time electronic trading software for brokers, exchanges, and traders in the United Kingdom and internationally. It offers GlobalVision, a real-time electronic trading platform that connects buyers to sellers in real time. "
target parent: Banco Santander, S.A.
target: Contigo Ltd.
Contigo is the leading provider of energy trading, portfolio risk management (ETRM) solutions, and logistics supply chain management and emissions reporting software to the energy industry. The company is based in Solihull, UK.
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closed 7/13/2013 via BNC Analysis

ION Trading, acquired Triple Point Technology, Inc.

synopsis: Triple Point Technology Inc. was acquired by Dublin-based Ion Investment Group. Triple Point is the leading global provider of in-cloud and on-premise Commodity Management software that enables its customers to manage the price volatility of raw materials and commodities such as oil, gas, chemicals, wheat, sugar, coffee beans, and aluminum.
buyer parent: TA Associates
buyer: ION Trading
ION is a global market leader providing real-time solutions across multiple asset classes for electronic trading, position management, pricing, risk management and downstream processing to clients which range from global financial institutions to niche financial specialists. "
target parent: Welsh, Carson, Anderson & Stowe
target: Triple Point Technology, Inc.
Triple Point Technology is the leading global provider of in-cloud and on-premise Commodity Management software that enables its customers to manage the price volatility of raw materials and commodities such as oil, gas, chemicals, wheat, sugar, coffee beans, and aluminum.
price ($mm)
$900
rev ($mm)
$200
EBITDA ($mm)
EV / rev
4.5x
EV / EBITDA
closed 4/18/2013 via PR Newswire

Eka Software Solutions Pvt Ltd, acquired EnCompass Technologies Inc.

synopsis: Eka Software Solutions, a global provider of advanced commodities and energy trading and risk management technologies, announced that it has acquired EnCompass Technologies. EnCompass is the premier provider of a fully-integrated, multi-commodity and FX transaction management system, covering the entire transaction lifecycle.
buyer: Eka Software Solutions Pvt Ltd
Eka Software Solutions is a market leader in software for global commodity markets. Its products and services help companies that buy, sell or trade commodities manage the challenges of volatile markets and 24x7 global operations more efficiently. "
target: EnCompass Technologies Inc.
EnCompass provides fully-integrated ETRM software to energy traders and marketers, covering physical and financial energy market transactions. Customers include large financial institutions, utilities, energy producers, energy marketers and trading floors.
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closed 5/2/2012 via BNC Analysis

Energy One, acquired HARD Software Pty Ltd

synopsis: Energy One is pleased to announce that it has acquired the assets, business and existing customers of the company HARD Software Pty Ltd, including the Web Offer System (WOS) software and intellectual property.
buyer: Energy One (ASX:EOL:$20.02)
Energy One is Australia’s leading provider of Energy Trading and Risk Management ("ETRM") solutions, with software product and service solutions for wholesale and retail energy businesses, including carbon and environmental certificate trading and management needs. "
target: HARD Software Pty Ltd
HARD Software Pty Ltd is an independent consulting and software development company that specializes in the systems analysis, design and implementation of technical software.
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announced 9/29/2011 via BNC Analysis

Welsh, Carson, Anderson & Stowe, will acquire Triple Point Technology, Inc.

synopsis: Triple Point will be sold by its current sponsor, Abry Partners, to another sponsor, Welsh, Carson, Anderson & Stowe. Triple Point provides enterprise software for the energy trading and risk management (ETRM) market and the broader commodity management market.
buyer: Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is the largest and most successful private equity firm focused on two industry sectors: information/business services and healthcare. "
target parent: ABRY Partners, LLC
target: Triple Point Technology, Inc.
Triple Point Technology is the leading global provider of multi-market commodity and enterprise risk management software solutions. Triple Point's Commodity XL profitably integrates physical and financial markets on a real-time, service-oriented architecture (SOA) platform for commodities.
price ($mm)
$500
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EBITDA ($mm)
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closed 4/17/2019 via BusinessWire

Ion Group, acquired Allegro Development Corp.

synopsis: Vector Capital and Cerium Technology have announced the sale of Allegro Development Corporation, a leading global provider of enterprise commodity management solutions, to ION, a provider of mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments, and corporates.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Vector Capital
target: Allegro Development Corp.
Allegro is a global leader in commodity management software for companies who buy, sell, produce or consume commodities. Allegro delivers position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture.
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closed 4/9/2018 via BusinessWire

Allegro Development Corp., acquired Financial Engineering Associates

synopsis: Allegro Development, a leader in commodity trading and risk management solutions, acquired Financial Engineering Associates (FEA), a provider of risk analytics software for traders, risk managers, and quantitative analysts in commodity industries. FEA provides customers with global commodity trading and quantitative analytics.
buyer parent: Vector Capital
buyer: Allegro Development Corp.
Allegro is a global leader in commodity management software for companies who buy, sell, produce or consume commodities. Allegro delivers position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture. "
target parent: MSCI Inc.
target: Financial Engineering Associates
Financial Engineering Associates (FEA) is a leading provider of risk analytics software for traders, risk managers, and quantitative analysts in commodity industries. FEA provides customers with global commodity trading and quantitative analytics that lead to better portfolio pricing and valuation.
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closed 6/17/2015 via BusinessWire

Allegro Development Corp., acquired JustCommodity

synopsis: Allegro Development Corporation, a leading provider of commodity management software, announced the acquisition of JustCommodity, a Singapore-based agriculture commodities solution provider. JustCommodity provides specialized domain expertise in agriculture commodities with 80 employees in Asia and its CxC™ product for trading and risk management.
buyer parent: Vector Capital
buyer: Allegro Development Corp.
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. Allegro’s software provides the global intelligence companies need to manage physical and financial positions. "
target: JustCommodity
JustCommodity is a leading Commodity Trading and Risk Management software solutions provider for the soft commodity sector, servicing some of the largest trading firms worldwide, including Forbes Global 2000 and Fortune 500 companies.
price ($mm)
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closed 7/25/2014 via PE Hub

Cerium Technology, Vector Capital, acquired Allegro Development Corp.

synopsis: Vector Capital and Cerium Technology have recapitalized Allegro Development Corporation. Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers.
buyer: Vector Capital
buyer: Cerium Technology
Vector Capital is a leading global private equity firm specializing in spinouts, buyouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. "
target: Allegro Development Corp.
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. Allegro’s software provides the global intelligence companies need to manage physical and financial positions.
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closed 3/6/2021 via Reuters

Ion Group, acquired Cedacri Group

synopsis: ION has acquired Cedacri, an Italian company that specializes in outsourcing services for the banking sector. They supervise many activities related to outsourcing services including full outsourcing, facility management, system integration and business process outsourcing.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target: Cedacri Group
Headquartered in Italy, Cedacri specializes in outsourcing services for the banking sector. They supervise many activities related to outsourcing services including full outsourcing, facility management, system integration, business process outsourcing.
price ($mm)
$1,819
rev ($mm)
$485
EBITDA ($mm)
EV / rev
3.8x
EV / EBITDA
announced 2/10/2021 via PR Newswire

Ion Group, will acquire Dash Financial Technologies

synopsis: DASH Financial Technologies, the leading options technology and execution provider in the U.S., announced that ION Investment Group has entered into a definitive agreement to acquire the company from Flexpoint Ford, LLC.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Flexpoint Ford, LLC
target: Dash Financial Technologies
Dash Financial Technologies is the industry’s leading capital markets technology and execution services provider. With their award-winning Dash360 platform, clients receive full routing and cost transparency and a comprehensive suite of tools to visualize all aspects of their orders in real time.
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closed 9/25/2019 via Company Press Release

Dealogic Limited, acquired Selerity, Inc.

synopsis: Dealogic, a UK company that offers integrated content, analytics, and technology via targeted products and services to financial firms, has acquired Selerity, a financial technology company using proprietary A.I. to deliver content and data solutions designed to automate inefficient workflows in finance.
buyer parent: Ion Group
buyer: Dealogic Limited
Based in the UK, Dealogic offers integrated content, analytics, and technology via targeted products and services to financial firms worldwide. Firms rely on Dealogic’s platform to connect and more effectively identify opportunities, execute deals, and manage risk. "
target: Selerity, Inc.
Selerity is a financial technology company using proprietary A.I. to deliver content and data solutions designed to automate inefficient workflows in finance. Their clients range from sophisticated asset management firms to innovative media and technology companies serving retail investors.
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closed 5/13/2019 via BusinessWire

Ion Group, acquired Acuris

synopsis: Funds advised by BC Partners announced the sale of a majority stake in Acuris, a global provider of proprietary financial intelligence, data and analytics, to ION Investment Group, a company that provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: BC Partners
target: Acuris
Acuris provides proprietary, actionable intelligence, data and analytics to the world's principal advisory firms, investment banks, law firms, hedge funds, private equity firms and corporates.
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closed 4/17/2019 via BusinessWire

Ion Group, acquired Allegro Development Corp.

synopsis: Vector Capital and Cerium Technology have announced the sale of Allegro Development Corporation, a leading global provider of enterprise commodity management solutions, to ION, a provider of mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments, and corporates.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Vector Capital
target: Allegro Development Corp.
Allegro is a global leader in commodity management software for companies who buy, sell, produce or consume commodities. Allegro delivers position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture.
price ($mm)
rev ($mm)
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closed 3/7/2019 via Company Press Release

CubeLogic Limited, acquired FERDEC GmbH

synopsis: CubeLogic, the leader in business intelligence enabled risk management solutions, has acquired FERDEC, a German technology and consulting firm dedicated to energy and commodity traders. FERDEC’s flagship transaction surveillance software is a data analytics engine that processes information from multiple sources to identify suspicious activities.
buyer parent: Ion Group
buyer: CubeLogic Limited
Founded in 2009, CubeLogic provides business intelligence enabled risk management products and services for the energy, commodity and financial markets. CubeLogic addresses the increasing demand for robust, cost effective risk management solutions. "
target: FERDEC GmbH
FERDEC is a German technology and consulting firm dedicated to the creation of innovative solutions for energy and commodity traders. FERDEC’s flagship transaction surveillance software is a data analytics engine that processes information from multiple sources to identify suspicious activities.
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announced 4/20/2018 via BNC Analysis

Ion Group, will acquire Fidessa group plc

synopsis: Ion Investment Group has agreed to buy UK rival Fidessa, with the British Fidessa trading technology group accepting a higher offer and switching its recommendation from a bid by Switzerland’s Temenos. Fidessa provides software and services for investment management systems, analytics and market data, serving both the buy-side and sell-side.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target: Fidessa group plc (LSE:FDSA:$493.58)
Fidessa, which listed on the London Stock Exchange in 1997, provides software and services for investment management systems, analytics and market data, serving both the buy-side and sell-side. Its products include an order management system for equity markets.
price ($mm)[EV]
$2,152 [$2,020]
rev ($mm)
$505
EBITDA ($mm)
$94
EV / rev
4.0x
EV / EBITDA
21.4x
announced 2/2/2018 via PR Newswire

Ion Group, will acquire OpenLink Financial, Inc

synopsis: Openlink Financial LLC, a global leader in trading and risk management solutions for the energy, commodities and financial services industries, announced that ION Investment Group has entered into a definitive agreement to acquire the company from Hellman & Friedman.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Hellman & Friedman LLC
target: OpenLink Financial, Inc
Openlink is the global leader in trading, treasury and risk management solutions for the energy, commodities, corporate and financial services industries.
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announced 11/22/2017 via BusinessWire

Ion Group, will acquire Dealogic Limited

synopsis: Ion Investment Group has agreed to acquire Dealogic from The Carlyle Group. Based in the UK, Dealogic offers integrated content, analytics, and technology via targeted products and services to financial firms worldwide. Firms rely on Dealogic’s platform to connect and more effectively identify opportunities, execute deals, and manage risk.
buyer: Ion Group
Based in Ireland, ION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target parent: Carlyle Group
target: Dealogic Limited
Based in the UK, Dealogic offers integrated content, analytics, and technology via targeted products and services to financial firms worldwide. Firms rely on Dealogic’s platform to connect and more effectively identify opportunities, execute deals, and manage risk.
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announced 10/30/2017 via BNC Analysis

Ion Group, will acquire Aspect Enterprise Solutions

synopsis: Aspect, a UK-based global provider of cloud-based solutions for commodity trade and risk management, commodities data and decision support, has entered into a definitive agreement to be acquired by Ion Investment Group. Aspect's range of solutions are empowering enterprises of all sizes trade oil, gas, petrochemicals, metals, biofuels and more.
buyer: Ion Group
Based in Ireland, Ion provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments, and corporations. They design solutions that improve decision-making, simplify complex processes, and empower people. "
target: Aspect Enterprise Solutions
Based in the UK, Aspect is a global SaaS provider for integrated Commodity Trading, Risk and Data Management, helping users to perform pre-trade analysis, trading, risk and operations management in one system. Their solutions help companies trade oil, gas, petrochemicals, metals, biofuels and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/1/2016 via BusinessWire

ION Trading, acquired Reval

synopsis: ION Investment Group announced that it completed its acquisition of Reval, a global provider of cloud-based solutions for treasury and risk management. Financial terms were not disclosedION provides mission-critical trading and workflow automation software solutions to financial institutions, central banks, governments and corporates.
buyer parent: TA Associates
buyer: ION Trading
ION is a global market leader providing real-time solutions across multiple asset classes for electronic trading, position management, pricing, risk management and downstream processing to clients which range from global financial institutions to niche financial specialists. "
target: Reval
Reval is the leading, global provider of a scalable cloud platform for treasury and risk management. Their Software-as-a-Service (SaaS) solutions help corporates and banks around the world better manage cash and liquidity, financial risk and hedge accounting.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/13/2013 via BNC Analysis

ION Trading, acquired Triple Point Technology, Inc.

synopsis: Triple Point Technology Inc. was acquired by Dublin-based Ion Investment Group. Triple Point is the leading global provider of in-cloud and on-premise Commodity Management software that enables its customers to manage the price volatility of raw materials and commodities such as oil, gas, chemicals, wheat, sugar, coffee beans, and aluminum.
buyer parent: TA Associates
buyer: ION Trading
ION is a global market leader providing real-time solutions across multiple asset classes for electronic trading, position management, pricing, risk management and downstream processing to clients which range from global financial institutions to niche financial specialists. "
target parent: Welsh, Carson, Anderson & Stowe
target: Triple Point Technology, Inc.
Triple Point Technology is the leading global provider of in-cloud and on-premise Commodity Management software that enables its customers to manage the price volatility of raw materials and commodities such as oil, gas, chemicals, wheat, sugar, coffee beans, and aluminum.
price ($mm)
$900
rev ($mm)
$200
EBITDA ($mm)
EV / rev
4.5x
EV / EBITDA
closed 1/18/2013 via Company Press Release

ION Trading, acquired Financial Software Systems

synopsis: Financial Software Systems, a global provider of Treasury Management, Capital Market and Wealth Management solutions announced the acquisition of the company by the ION Group, a global provider of trading, capital markets and treasury solutions and services.
buyer parent: TA Associates
buyer: ION Trading
ION is a global market leader providing real-time solutions across multiple asset classes for electronic trading, position management, pricing, risk management and downstream processing to clients which range from global financial institutions to niche financial specialists. "
target: Financial Software Systems
Financial Software Systems is a financial risk-management software and consulting firm. Financial Software Systems provides foreign exchange and interest rate risk-management software and consulting for banks, corporations and fund managers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 4/27/2011 via BNC Analysis

ION Trading, will acquire Wall Street Systems

synopsis: Ion Trading, a provider of electronic trading, pricing and risk management systems across asset classes, will acquire treasury and capital market transaction processing vendor Wall Street Systems.
buyer parent: TA Associates
buyer: ION Trading
Founded in 1999, ION Trading is a global leader in providing technology that allows clients to integrate and successfully manage trading activities in electronic fixed-income markets. ION is headquartered in Dublin with offices in London, New York, Tokyo, Madrid and Pisa. "
target parent: Warburg Pincus
target: Wall Street Systems
Wall Street Systems provides functionally rich, integrated and scalable solutions for improved workflow, control and overall productivity for corporate treasury, central banking, FX trading and global back office operations.
price ($mm)
rev ($mm)
$150
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 8/4/2006 via

ION Trading, acquired Anvil Software

synopsis: Dublin-based Ion Trading, a provider of dealing systems for electronic fixed income markets, is acquiring Anvil Software, a UK-based supplier of software for repo trading and securities lending. Financial terms of the deal were not disclosed.
buyer: ION Trading
Founded in 1999, ION Trading is a global leader in providing technology that allows clients to integrate and successfully manage trading activities in electronic fixed-income markets. ION is headquartered in Dublin with offices in London, New York, Tokyo, Madrid and Pisa (Italy). "
target: Anvil Software
Anvil develops market-leading products for global investment banks, fund managers and financial institutions. Our systems are multi-product, multi-currency, multi-site and modular. They are highly scalable and can support all sizes of operations from single traders to global entities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/1/2005 via BusinessWire

ION Trading, acquired Aurora Software, Inc.

synopsis: ION Trading, a leading provider of high-performance software solutions for trading on electronic fixed-income markets, announced today that it has acquired New York-based Aurora Software, Inc., an established provider of systems for U.S. Treasuries, Mortgages and Options trading desks.
buyer: ION Trading
Founded in 1999, ION Trading is a global leader in providing technology that allows clients to integrate and successfully manage trading activities in electronic fixed-income markets. ION is headquartered in Dublin with offices in London, New York, Tokyo, Madrid and Pisa (Italy). "
target: Aurora Software, Inc.
Aurora Software offers a highly sophisticated suite of trading solutions for multiple fixed-income trading desks. These solutions address the needs of everyone on the desk, from traders and salespeople to operations, risk and desk managers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 6/17/2022 via PR Newswire

VITEC Software Group, will acquire Scanrate Financial Systems A/S

synopsis: Vitec Software Group AB is to acquire all shares in the Danish software company Scanrate Financial Systems A/S, which develops and delivers software for analysis, valuation, and risk management with a focus on the Danish bond market.
buyer: VITEC Software Group (OM:VIT B:$1,644.58)
Vitec is the market leader for Vertical Market Software in the Nordic region. They develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. Their employees are based in Denmark, Finland, Norway and Sweden. "
target: Scanrate Financial Systems A/S
The software company Scanrate Financial Systems A/S develops and delivers software for analysis, valuation, and risk management with a focus on the Danish bond market.
price ($mm)
rev ($mm)
$6
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
announced 10/3/2013 via PE Hub

CameronTec, will acquire Greenline Financial Technologies

synopsis: CameronTec is to acquire US-based Greenline Financial Technologies, a provider of FIX and electronic trading technology solutions and services and wholly-owned subsidiary of MarketAxess Holdings Inc.
buyer parent: Nordic Capital
buyer: CameronTec
CameronTec is on the forefront of electronic trading. As the embedded, standard, global FIX-based technology, it shapes the way markets publish, execute, clear, settle and manage risk. Its flagship product Catalys provides an integrated platform for operations, infrastructure and trading. "
target parent: Technology Crossover Ventures
target: Greenline Financial Technologies
Greenline Financial Technologies, Inc. develops software solutions for enabling electronic trading. The company provides system integration, testing, and management solutions for financial information exchange related products and services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/3/2008 via finextra.com

Technology Crossover Ventures, purchased a minority stake in MarketAxess Holdings, Inc.

synopsis: Private equity firm Technology Crossover Ventures (TCV) is acquiring a minority stake in US electronic bond trading network MarketAxess for an aggregate purchase price of $35 million.
buyer: Technology Crossover Ventures
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to expansion, late-stage private, and public companies. "
target: MarketAxess Holdings, Inc. (MKTX:$615.14)
MarketAxess operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which our institutional investor clients can access the liquidity provided by our broker-dealer clients.
price ($mm)
$35*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/6/2008 via PR Newswire

MarketAxess Holdings, Inc., acquired Greenline Financial Technologies

synopsis: MarketAxess Holdings Inc., the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, has acquired Chicago- based Greenline Financial Technologies, Inc.
buyer: MarketAxess Holdings, Inc. (MKTX:$615.14)
MarketAxess operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which our institutional investor clients can access the liquidity provided by our broker-dealer clients. "
target: Greenline Financial Technologies
Greenline Financial Technologies, Inc. develops software solutions for enabling electronic trading. The company provides system integration, testing, and management solutions for financial information exchange related products and services.
price ($mm)[EV]
$33 [$32]
rev ($mm)
$6
EBITDA ($mm)
$2
EV / rev
8.0x
EV / EBITDA
25.0x
closed 11/16/2007 via BusinessWire

GL Trade SA, acquired Decision Software, Inc.

synopsis: GL Trade, the leading international provider of front to back office software solutions for financial institutions, announces the acquisition of American company Decision Software, currently owned at majority by its 2 founders Gerald Belpaire and Samuel Aizenberg.
buyer: GL Trade SA
GL TRADE S.A. provides software solution primarily to financial intermediaries and brokerage houses to automate the order flow from client through broker, and then onto back office. "
target: Decision Software, Inc.
Decision Software, Inc. engages in designing, engineering, and implementing fixed income sales/trading systems for the institutional financial community. It offers decision software trading system (DSTS) to facilitate proprietary trading, sales, and finance activity of fixed income securities.
price ($mm)
rev ($mm)
$4
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 5/31/2016 via PR Newswire

Morningstar, Inc., acquired InvestSoft Technology, Inc.

synopsis: Morningstar, Inc., a leading provider of independent investment research, has acquired InvestSoft Technology, a provider of fixed-income analytics. InvestSoft helps investment firms analyze fixed-income securities and portfolios, primarily through its BondPro Fixed-Income Calculation Engine.
buyer: Morningstar, Inc. (MORN:$1,699.30)
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. "
target: InvestSoft Technology, Inc.
InvestSoft Technology provides software solutions for investment firms designed to streamline workflow, reduce risk and harness the value of the data throughout an organization. They are a leader in the development and implementation of Trading, Portfolio Management, and Accounting Solutions.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/19/2021 via BusinessWire

280 CapMarkets will be merged with Incapital,

synopsis: Incapital, a leading underwriter and distributor of fixed income and market-linked securities, and 280 CapMarkets, a technology company providing best execution trading support and price transparency, announced they are merging to create InspereX.
buyer: Incapital
Incapital was founded in 1999 and is a leading underwriter and distributor of securities to more than 500 broker dealers, institutions, asset managers, RIAs and banks. "
target: 280 CapMarkets
280 CapMarkets is a financial technology company focused on delivering best execution support and price transparency to advisors, institutional investors, and issuers in the fixed income markets.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/10/2017 via PR Newswire

Algomi, will purchase ALFA Fixed Income Liquidity and Analytics Tool from AllianceBernstein L.P.

synopsis: Algomi, the network company providing information-matching solutions for the optimization of fixed income liquidity, announced that the company will acquire and distribute the award-winning ALFA product created & developed by AllianceBernstein (AB). ALFA (Automated Liquidity Filtering & Analytics) was developed as an in-house liquidity tool by AB.
buyer: Algomi
Algomi empowers fixed income professionals to make better trading relationships in the ever-changing landscape of capital, leverage and liquidity requirements. Their Honeycomb software suite increases the opportunities and velocity in large and illiquid trades between banks and buy side investors. "
seller parent: AXA Group
seller: AllianceBernstein L.P. (AB:$228.88)
ALFA (Automated Liquidity Filtering & Analytics) provides cross-market information on liquidity and trade intent in order to give the buy-side a real-time view of the entire bond market including government bonds, investment grade, high yield, emerging market, municipal debt, and structured credit.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/1/2013 via PR Newswire

TradeWeb Group LLC, acquired BondDesk Group LLC

synopsis: Tradeweb Markets, a leading builder and operator of global fixed income and derivatives marketplaces, announced that it has completed the acquisition of BondDesk Group LLC, and has rebranded its combined retail fixed income division as Tradeweb Direct. Customers will soon benefit from a new bridge between each of the current trading platforms.
buyer parent: Thomson Reuters
buyer: TradeWeb Group LLC
Tradeweb Markets is a world leader in building and operating electronic over-the-counter marketplaces. Tradeweb’s position as the hub of electronic trading in fixed income and derivatives business has been made possible through a longstanding partnership with the industry. "
target parent: Advent International
target: BondDesk Group LLC
BondDesk Group is a privately held company providing comprehensive, value added fixed income solutions to the securities industry in the U.S. and Canada. The BondDesk ECN is one of the leading fixed income trading platforms in the U.S.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/31/2009 via BusinessWire

SS&C Technologies, Inc., acquired Tradeware Global LLC

synopsis: SS&C Technologies, Inc., a global provider of financial services software and software-enabled services, announced it has acquired Tradeware Global Corp., a leading broker-neutral solution provider for electronic access to global equity markets.
buyer parent: The Carlyle Group
buyer: SS&C Technologies, Inc. (SSNC:$5,112.60)
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. By leveraging expertise in common investment business functions, SS&C cost effectively serves clients in different industry segments. "
target: Tradeware Global LLC
Tradeware specializes in flexible FIX-based equity order management systems, FIX connectivity solutions, and full front-to-back office integration and compliance reporting services. The Company's service bureau business model offers customers the much sought-after benefits of trading neutrality.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/17/2006 via PR Newswire

TradeWeb Group LLC, acquired LeverTrade LLC

synopsis: Thomson TradeWeb, the leading online marketplace for Fixed Income and Derivatives, and part of The Thomson Corporation, today announced the strategic acquisition of LeverTrade LLC, formerly Global Trade Technologies (GTT), a provider of web-based fixed-income management systems for the retail marketplace.
buyer parent: The Thomson Corporation
buyer: TradeWeb Group LLC
TradeWeb is the world's leading online trading network for fixed-income securities. TradeWeb offers a complete spectrum of services. You can view the largest fixed-income markets in real time via TradeWeb's premier Market Data. "
target: LeverTrade LLC
LeverTrade LLC, formerly Global Trade Technologies, Inc. (GTT), is a leading provider of trade, order and inventory management software to the financial services industry.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 6/7/2006 via PR Newswire

Advent International Corporation, will acquire BondDesk Group LLC

synopsis: Advent International, a leading global private equity firm, today announced it has agreed to acquire a majority interest in BondDesk Group, the leading Alternative Trading System focused on odd-lot fixed-income execution and provider of software solutions to the securities industry, in partnership with the company's senior management team.
buyer: Advent International Corporation
Advent International has one of the world's largest and most experienced private equity teams, with over 100 investment professionals in 15 countries. As an active, hands-on investor, we apply our resources, expertise and experience to help management teams achieve their growth objectives. "
target: BondDesk Group LLC
BondDesk Group is a privately held company providing comprehensive, value added fixed income solutions to the securities industry in the U.S. and Canada.
price ($mm)
$350
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/29/2008 via BusinessWire

IntercontinentalExchange, acquired Creditex Group Inc.

synopsis: Internet Capital Group, Inc. announced that the sale of its partner company, Creditex Group Inc., to IntercontinentalExchange, Inc., a leading operator of global derivatives exchanges and over-the-counter markets, was consummated on August 29, 2008.
buyer: IntercontinentalExchange (ICE:$9,168.00)
IntercontinentalExchange operates the leading global, electronic marketplace for trading both futures and OTC energy contracts. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. "
target: Creditex Group Inc.
Creditex Group, Inc., an interdealer broker, operates an e-trading platform for executing and processing credit derivatives to traders at financial institutions.
price ($mm)[EV]
$474 [$433]
rev ($mm)
$183
EBITDA ($mm)
$29
EV / rev
2.4x
EV / EBITDA
15.4x
closed 3/2/2016 via PR Newswire

TradeWeb Group LLC, acquired CodeStreet LLC

synopsis: Tradeweb Markets, a leading builder and operator of global fixed income and derivatives marketplaces, announced that it has acquired CodeStreet LLC, a leader in data-driven trade identification and workflow management software development.
buyer parent: Thomson Reuters
buyer: TradeWeb Group LLC
Tradeweb Markets builds and operates many of the world's most efficient financial marketplaces, providing market participants greater efficiency in fixed income, derivatives and ETFs. Tradeweb pioneered straight-through-processing in fixed income and supports marketplaces. "
target: CodeStreet LLC
CodeStreet has delivered leading fixed income front-office solutions to enhance riskless and risk-reducing business for the world's largest global banks and regional dealer community. CodeStreet technology helps bank and broker dealers by identifying previously overlooked trading opportunities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/28/2008 via BusinessWire

Moody's Corporation, acquired BQuotes

synopsis: Moody’s Corporation has acquired BQuotes, a global provider of price discovery tools and end-of-day pricing services for a wide range of fixed income securities. BQuotes’ innovative product line will be integrated into Moody’s Analytics’ new suite of pricing and valuation products.
buyer: Moody's Corporation (MCO:$6,218.00)
Moody's Corporation is the parent company of Moody's Investors Service, a leading provider of credit ratings, research and analysis covering debt instruments and securities in the global capital markets, Moody's Economy.com, a provider of economic research and data services and Moody's KMV. "
target: BQuotes
BQuotes provides closing, market-to-market data for the over the counter (OTC) markets. The company focuses on offering price discovery software; and market-to-market data for the over the counter (OTC) markets in a range of OTC asset classes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/31/2006 via Company Press Release

Fitch Ratings Ltd., purchased credit derivatives analytics business from Reoch Credit Ltd

synopsis: Fitch Ratings Ltd, a Fitch Group, Inc. company, has acquired the credit derivatives analytics business of Reoch Credit Ltd and will assume full ownership of Reoch Credit's suite of pricing and risk analytics models.
buyer parent: Fimalac SA
buyer: Fitch Ratings Ltd. (:$693.00)
Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with timely and prospective credit opinions. "
seller: Reoch Credit Ltd
The Derivatives Consulting Group (DCG) is a global independent advisory firm for all capital market participants who use derivatives and cash products. DCG provides services to a large number of leading investment and commercial banks, hedge funds, asset managers and industry utilities.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/31/2021 via PR Newswire

7Ridge Limited, will acquire Trading Technologies International, Inc.

synopsis: Trading Technologies International, Inc., (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, has agreed to be acquired by UK-based 7RIDGE, a specialized growth equity firm invested in transformative technologies.
buyer: 7Ridge Limited
7RIDGE is a specialized growth equity firm based in the UK that invests in financial services and transformative technologies. "
target: Trading Technologies International, Inc.
Trading Technologies creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, Commodity Trading Advisors (CTAs), hedge funds, commercial hedgers and risk managers.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/4/2021 via Company Press Release

EquiLend LLC, acquired Stonewain

synopsis: EquiLend, the global financial technology company for the securities lending, collateral and swaps industries, announced it has acquired a majority stake in Stonewain Systems, Inc., an independent provider of world-class software and solutions for the securities finance industry.
buyer: EquiLend LLC
EquiLend is a global financial technology firm offering trading, post-trade, market data, regulatory and clearing services for the securities lending, collateral and swaps industries. EquiLend has offices in New York, Toronto, London, Dublin, Hong Kong and Tokyo. "
target: Stonewain
Stonewain provides world-class software and solutions for the securities finance industry. Its products deliver comprehensive, fully integrated solutions that combine a high level of industry-specific functionality with leading-edge technology and automation.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/30/2021 via PR Newswire

Broadridge Financial Solutions, will acquire Itiviti AB

synopsis: Broadridge Financial Solutions, a global Fintech leader, will acquire Sweden-based Itiviti Holding AB, a leading provider of trading and connectivity technology to the capital markets industry. The acquisition significantly expands Broadridge's Capital Markets franchise by extending into the front office and strengthening multi-asset capabilities.
buyer: Broadridge Financial Solutions (BR:$4,824.00)
Broadridge, a global Fintech leader, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. Broadridge delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers, and public companies. "
target parent: Nordic Capital
target: Itiviti AB
Based in Sweden, Itiviti is a leading global capital markets technology service provider offering highly scalable solutions that deliver significant cost savings for financial institutions by enabling them to consolidate their trading infrastructure.
price ($mm)
$2,528
rev ($mm)
$248
EBITDA ($mm)
EV / rev
10.2x
EV / EBITDA
announced 3/24/2021 via BNC Analysis

Investview, Inc, will acquire mPower Trading Systems

synopsis: Investview, Inc., announced that they will acquire MPower Trading Systems LLC, the developer and owner of Prodigio, a proprietary software-based trading platform with applications within the brokerage industry.
buyer: Investview, Inc (OTCPK:INVU:$25.68)
Investview, Inc. is a New Jersey-based diversified financial technology organization. The Company operates primarily through its wholly- and majority-owned subsidiaries, to provide financial products and services to accredited investors, self-directed investors and select financial institutions. "
target: mPower Trading Systems
mPower Trading Systems (MTS) is a privately owned financial software solutions provider of customizable trading systems. MTS specializes in providing a wide range of customizable high performance trading solutions to broker-dealers, and more. Their product is the trading software Prodigia.
price ($mm)
$69
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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($7.67)
EBIT ($mm)
($10.30)
Net Income ($mm)
Employees
20
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Ticker: HLSE:ADMCM
 
 
 
 
 
 
 
 
Admicom Oyj
Admicom Oyj
Admicom is a Finnish forerunner and provider of cloud-based enterprise resource planning solutions for construction, building services engineering, and manufacturing companies and a comprehensive partner in software and accounting services.
year
2020
rev ($mm)
$24.87
EBITDA ($mm)
$12.13
EBIT ($mm)
$10.83
Net Income ($mm)
$7.60
Employees
162
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Ticker: XMTR
 
 
 
 
 
 
 
 
Xometry
Xometry
Xometry is a leading digital marketplace for on-demand manufacturing, transforming one of the largest industries in the world. Xometry uses its proprietary technology to create a marketplace that enables buyers to efficiently source on-demand manufactured parts and assemblies.
year
2021
rev ($mm)
$189.22
EBITDA ($mm)
($40.72)
EBIT ($mm)
($43.89)
Net Income ($mm)
Employees
386
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Ticker: DSGX
 
 
 
 
 
 
 
 
Descartes Systems Group Inc.
Descartes Systems Group Inc.
Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use their modular, software-as-a-service solutions to complete numerous logistics processes.
year
2023
rev ($mm)
$424.69
EBITDA ($mm)
$167.96
EBIT ($mm)
$103.73
Net Income ($mm)
Employees
0
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Ticker: PAY
 
 
 
 
 
 
 
 
Paymentus Corporation
Paymentus Corporation
Paymentus is a leading provider of cloud-based bill payment technology and solutions. The company's omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type.
year
2021
rev ($mm)
$346.16
EBITDA ($mm)
$19.83
EBIT ($mm)
$17.33
Net Income ($mm)
$10.46
Employees
843
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Ticker: CAM
 
 
 
 
 
 
 
 
Cameleon Software SA
Cameleon Software SA
Cameleon Software S.A., together with its subsidiaries, provides eCommerce, product configuration, pricing, and quoting software for small to medium-sized businesses and enterprise businesses worldwide.
year
2013
rev ($mm)
$15.70
EBITDA ($mm)
$1.38
EBIT ($mm)
$1.32
Net Income ($mm)
$1.30
Employees
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Ticker: MKTX
 
 
 
 
 
 
 
 
MarketAxess Holdings, Inc.
MarketAxess Holdings, Inc.
MarketAxess operates a leading, institutional electronic trading platform delivering expanded liquidity opportunities, improved execution quality and significant cost savings across global fixed-income markets.
year
2020
rev ($mm)
$615.14
EBITDA ($mm)
$350.02
EBIT ($mm)
$321.32
Net Income ($mm)
$262.94
Employees
527
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Ticker: BLK
 
 
 
 
 
 
 
 
BlackRock, Inc.
BlackRock, Inc.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. They help clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares®, and more.
year
2022
rev ($mm)
$19,374.00
EBITDA ($mm)
$8,525.00
EBIT ($mm)
$8,378.00
Net Income ($mm)
Employees
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Ticker: AIM:FDP
 
 
 
 
 
 
 
 
First Derivatives plc
First Derivatives plc
First Derivatives (FD) is a global technology provider with nearly 20 years of experience of working with some of the world’s largest finance, technology and energy institutions.
year
2017
rev ($mm)
$222.71
EBITDA ($mm)
$27.38
EBIT ($mm)
$21.19
Net Income ($mm)
$11.43
Employees
2000
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Ticker:
 
 
 
 
 
 
 
 
Infront AS
Infront provides electronic trading solutions and real-time market data, news, and analytics covering financial key markets in all asset classes. Infront’s terminal, mobile apps and versatile electronic trading solutions connect professional users to their local and international markets.
year
2021
rev ($mm)
$142.28
EBITDA ($mm)
$20.65
EBIT ($mm)
$10.45
Net Income ($mm)
Employees
483
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Ticker: BIT:CAD
 
 
 
 
 
 
 
 
CAD IT S.p.A.
CAD IT S.p.A.
CAD IT is a dynamic Italian technology company with a leading position in financial services software. Area Finanza, their flagship product, is a securities trading and post-trading process management system. CAD IT customers includes Banks, Insurances, Funds, Brokers, Enterprises, and more.
year
2018
rev ($mm)
$74.33
EBITDA ($mm)
$14.44
EBIT ($mm)
$7.75
Net Income ($mm)
$4.94
Employees
590
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Ticker: BIT:TAS
 
 
 
 
 
 
 
 
TAS Group S.p.A
TAS Group S.p.A
TAS S.p.A. a leading company in Italy in the supply of software and services for banking and financial applications, with a presence in Europe, the US and Latin America. TAS is specialised in software solutions for electronic money, payment systems, capital markets and Extended Enterprise.
year
2020
rev ($mm)
$63.47
EBITDA ($mm)
$6.90
EBIT ($mm)
$7.21
Net Income ($mm)
$6.01
Employees
415
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Ticker: SEHK:8018
 
 
 
 
 
 
 
 
Finsoft Financial Investment Holdings Limited
Finsoft Financial Investment Holdings is principally engaged in the provision of financial trading software solutions, provision of other internet financial platforms, provision of referral services, money lending business, securities investments and provision of corporate finance advisory services.
year
2015
rev ($mm)
$7.26
EBITDA ($mm)
$1.91
EBIT ($mm)
$1.77
Net Income ($mm)
$1.16
Employees
64
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Ticker: INIX.PK
 
 
 
 
 
 
 
 
iFinix Corporation
iFinix Corporation
Ifinix is a leading global provider of financial and business information to professionals and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, Ifinix provides streaming, real-time market data, news and analytics.
year
2011
rev ($mm)
$0.54
EBITDA ($mm)
($0.26)
EBIT ($mm)
($0.27)
Net Income ($mm)
Employees
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Ticker: GB:FFA.GB
 
 
 
 
 
 
 
 
FFastFill plc
FFastFill plc
FFastFill is the leading provider of Software as a Service to the global derivatives community, using the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices.
year
2011
rev ($mm)
$24.91
EBITDA ($mm)
$6.69
EBIT ($mm)
$3.39
Net Income ($mm)
$2.90
Employees
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Ticker: TSE:3747
 
 
 
 
 
 
 
 
INTERTRADE Co., Ltd.
INTERTRADE Co., Ltd. is a Japan-based company principally engaged in the provision of packaged systems for security business. The Company is involved in the design, development, sale, maintenance and operation of front and packaged systems for security business and corporations, and more.
year
2018
rev ($mm)
$17.15
EBITDA ($mm)
($3.32)
EBIT ($mm)
($3.58)
Net Income ($mm)
Employees
115
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Ticker: SEHK:8131
 
 
 
 
 
 
 
 
abc Multiactive
abc Multiactive
abc Multiactive is a software company in Hong Kong that provides solutions for brokerages. abc Multiactive offers an advanced solution for front and back-office trading. They also offer a FinReg solution that helps firms to detect abnormal trades, suspicious activities, and money laundering.
year
2020
rev ($mm)
$1.53
EBITDA ($mm)
($0.37)
EBIT ($mm)
($0.40)
Net Income ($mm)
Employees
24
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Ticker: FXIT
 
 
 
 
 
 
 
 
Forex International Trading Corp.
Forex International Trading Corp.
Forex International Trading develops the next generation of Forex trading platforms. 4XINT Trader is an advanced online trading platform for the Forex market.
year
2011
rev ($mm)
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
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Ticker: OTCPK:APTY
 
 
 
 
 
 
 
 
APT Systems, Inc.
APT is an acronym for Applied Proprietary Trading. The Management of APT Systems, Inc. works to deliver stock trading tools with a focus on handheld devices.
year
2018
rev ($mm)
$0.01
EBITDA ($mm)
($1.69)
EBIT ($mm)
($1.72)
Net Income ($mm)
Employees
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Ticker: AIM:BRY
 
 
 
 
 
 
 
 
Brady plc
Brady plc
Brady plc is the leading provider of software solutions for global commodity trading. They offer a choice of trading and risk management applications designed to enable producers, financial organisations and trading companies to manage their commodity transactions in an integrated solution.
year
2017
rev ($mm)
$39.97
EBITDA ($mm)
($2.65)
EBIT ($mm)
($3.47)
Net Income ($mm)
Employees
253
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Ticker: MORN
 
 
 
 
 
 
 
 
Morningstar, Inc.
Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions.
year
2022
rev ($mm)
$1,699.30
EBITDA ($mm)
$411.60
EBIT ($mm)
$260.90
Net Income ($mm)
Employees
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