ConvergEx closes sale of Eze Castle Software and RealTick

Source: ConvergEx

ConvergEx Holdings, LLC (ConvergEx) today announced that it has completed its previously announced sale of Eze Castle Software LLC and RealTick LLC to an affiliate of TPG.

ConvergEx will now focus exclusively on expanding the world-class global brokerage and trading-related services it provides to institutional investors and financial intermediaries.

"ConvergEx is an exceptional global franchise with a wealth of talented employees and a loyal customer base," said ConvergEx Chairman and Chief Executive Officer Joseph M. Velli. "We see a great number of opportunities in our future as we keep innovating and delivering differentiated technology-driven solutions, while providing superior client-first service."

ConvergEx's management structure and investor base remain unchanged after the completion of the transaction.

Eze Castle Software and RealTick will operate under the name Eze Software Group. ConvergEx will maintain a close relationship with Eze Software Group through a cooperative marketing arrangement to ensure that each firm's services will continue to be offered on an integrated basis. Each firm will also cross-sell the other company's services.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and Citigroup acted as financial advisors to ConvergEx. Kirkland & Ellis served as legal counsel.

Financial terms were not disclosed. 

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