ITRS Group, a provider of real-time monitoring systems to the financial services sector, has been acquired by asset manager Carlyle Group in partnership with its founders and management. Financial terms were not disclosed.
Founded in 1997, London-based ITRS reported revenues of more than £16 million in the year ended in March and has over 600 installations worldwide with clients including eight of the top 10 global investment banks.
The vendor's flagship product, Geneos, provides firms with real-time monitoring and management of their trading infrastructure, boosting risk management and minimising latency.
Carlyle says it will support ITRS' international expansion and diversification.
Fernando Chueca, director, European Technology Partners team, Carlyle, says: "As financial firms are increasingly challenged by the growing cost and complexity of running high-performance trading infrastructures, and facing the increased regulatory pressure to manage the operational risk of potential systems outages, ITRS is emerging as a truly best-of-breed solution provider for real-time application and infrastructure monitoring."
Kevin Covington, CEO, ITRS, adds: "We expect Carlyle's global resources, international network and sector expertise will help propel us forward as we continue to expand and enhance our product offering for clients."
Previous Carlyle investments in the fintech space include FRSGlobal, Trema and Aapama.