Telecoms firm Colt is on the verge of buying trading technology outfit MarketPrizm from Chi-x Global, according to the Financial Times.
Part of Chi-Tech, MarketPrizm offers market participants connectivity, co-location and hosting, low latency market data, and third-party applications.
With parent Instinet seeking to streamline the business and focus on its growing network of trading platforms in Asia and Latin America, MarketPrizm was put up for sale last year.
Colt is close to agreeing a deal and hopes to make the acquisition public when it reports full year results on Friday, says the FT, citing "two people familiar with the matter".
Colt closes in on MarketPrizm acquisition - FT (subscription)