Press Release | Transaction Profile |
|
Overview of Transaction
 |
|
|
On November 18, 2008 Cicada Corporation announced its sale to Chi-X Global, terms of the deal were not disclosed |
|
|
|
The acquisition is effective immediately and includes Cicada's entire global employee base |
|
|
|
Cicada founder and CEO, Gregory E. Smith, will become head of Chi-X Global Technology, Chi-X Global's newly created exchange services business unit |
|
|
|
Chi-X Global Technology will operate separately from Chi-X's regional trading platforms |
Significance of Transaction
|
|
|
The acquisition demonstrates the value and synergies of combining leading technologies in the data management and trading technology sectors |
|
|
|
Cicada's experience with the global trading community is a complementary fit to Chi-X's global business model and allows Chi-X to offer exchanges and MTFs a proven, scalable and low-cost technology infrastructure |
|
|
|
Cicada provides data management, trading and compliance technologies for financial institutions, exchanges and data vendors |
FT Partners' Role
|
|
|
FT Partners served as exclusive strategic and financial advisor to Cicada |
|
