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.