31 August 2016
Find out more

ConvergEx to sell Eze Castle Software and RealTick to TPG

23 January 2013  |  5886 views  |  0 Online Buy and sell button

ConvergEx is selling Eze Castle Software and RealTick to private equity firm TPG Capital. Financial terms of the all-cash deal were not disclosed.

Eze Castle Software, which provides global order management and related investment technologies, and RealTick, a multi-broker, cross-asset electronic execution platform, will operate under the name Eze Software Group.

In addition, when the deal closes in the second quarter the newly formed company will then buy another outfit, Tradar, a supplier of portfolio management and accounting technology.

TPG says that the firm will bring together the products and expertise of the three units into a single platform, for a seamless workflow from front to back office. It will employ 700 people in 12 offices worldwide and serve more than 1400 global buy-side institutions.

Bryan Taylor, partner, TPG, says: "The new company is now uniquely positioned to focus on its specialised product offerings for the front, middle, and back offices. The collective management team has a long history of success in this space and we look forward to partnering with them to continue developing innovative technology solutions for investment managers."

Meanwhile, ConvergEx says that it will "maintain a close relationship" with Eze and the pair have already established a cooperative marketing agreement. GTCR and BNY Mellon, founding shareholders of ConvergEx, "remain committed" and will maintain their investments in the company.

Joseph Velli, chairman and CEO, ConvergEx, says: "This transaction will also allow ConvergEx to allocate resources to increase our position as a leader in technology-based global execution and trading products and services while also strengthening our financial position."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CVC to buy Convergex majority stake; Patsystems acquiring Mixit

CVC to buy Convergex majority stake; Patsystems acquiring Mixit

21 July 2011  |  7060 views  |  0 comments
ConvergEx plans $400m IPO

ConvergEx plans $400m IPO

09 May 2011  |  5596 views  |  0 comments
Barclays sells RealTick to ConvergEx

Barclays sells RealTick to ConvergEx

16 December 2010  |  9746 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit www.smartstream-stp.comFind out more

Who is commenting?

Top topics

Most viewed Most shared
India's Unified Payments Interface goes live with 21 banksIndia's Unified Payments Interface goes li...
9733 views comments | 23 tweets | 26 linkedin
Cultural change crucial in digital transformationCultural change crucial in digital transfo...
7322 views comments | 11 tweets | 10 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
6941 views comments | 15 tweets | 14 linkedin
Mondo becomes MonzoMondo becomes Monzo
6623 views comments | 14 tweets | 9 linkedin
hands typing furiouslyBlockchain: Some Remarkable Announcements!
6512 views 0 | 5 tweets | 14 linkedin

Featured job

Find your next job