Founded in 1986, New York-headquartered WallStreet employs around 700 staff at 14 offices in North America, Europe and Asia. It claims over 650 customers for its FX trading and treasury technology.

The company has been majority-owned by PE-firm Warburg Pincus since 2006 but has been in the shop window for some time. News of a deal with Ion Trading was circulated by internal mail at the company Thursday.

A Wall Street spokesman has confirmed to Finextra that a "definitive agreement" has been struck with Ion, which sells trading, pricing and risk management technology.

No other detail were forthcoming.