Press Release | Transaction Profile |
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Overview of Transaction
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On April 16, 2007, LatentZero announced its sale to Fidessa / royalblue group plc ("Fidessa") for an aggregate consideration of up to approximately GBP £63,000,000 / US $125,238,000, which represents a 2006 revenue multiple of 3.64x |
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royalblue's principal activity is providing a range of applications known collectively as Fidessa, which provides solutions for trading systems, market data and global connectivity |
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LatentZero is the world's leading innovator in front office software for the asset management industry |
Significance of Transaction
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Represents Fidessa's largest acquisition to date |
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European transaction involving two UK firms |
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Acquisition further expands Fidessa's product offering and gives Fidessa a direct, leading market entry into buy-side clients
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Broadens and diversifies the Fidessa trading product suite |
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FT Partners' Role
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FT Partners acted as sole strategic and financial advisor to LatentZero and its Board of Directors |
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This transaction marks FT Partners’ second significant M&A transaction in the order management systems space; Represented ITG in its acquisition of Macgregor for $230mm |
Notes: US Dollars calculated using exchange rate data as of April 16, 2007. Aggregate consideration subject to earnouts.
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