Royalblue group, the company behind the Fidessa
multi-asset trading systems, is acquiring LatentZero, the supplier
of front-office software to investment managers.
Royalblue said the acquisition provided strategic benefit, as it
allowed for the integration of multi-asset buy-side and sell-side
trading flow systems.
With offices in London, Boston, New York and Paris, LatentZero
employs around 170 staff and provides software for fund manager
decision support, order management, execution management and
investment compliance.
The maximum cost of the acquisition is £63m, comprising an
initial £38m and deferred payments during 2007 and 2008.
LatentZero will continue to operate as a separate entity within
the royalblue group, and the existing management team, including
founders Richard Jones and Dan Watkins will remain in place as part
of the transaction.
BlueBox provides strategies for trading markets >>
Royalblue website
>>
LatentZero website >>
Comment on this
article