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FT Partners represents LatentZero in its sale to royalblue group plc / Fidessa for aggregate consideration of up to $125,238,000

Overview of Transaction
  • On April 16, 2007, LatentZero announced its sale to Fidessa / royalblue group plc ("Fidessa") for an aggregate consideration of up to approximately GBP £63,000,000 / US $125,238,000, which represents a 2006 revenue multiple of 3.64x
  • Royalblue's principal activity is providing a range of applications known collectively as Fidessa, which provides solutions for trading systems, market data and global connectivity
  • LatentZero is the world's leading innovator in front office software for the asset management industry
Significance of Transaction
  • Represents Fidessa's largest acquisition to date
  • European transaction involving two UK firms
  • Acquisition further expands Fidessa's product offering and gives Fidessa a direct, leading market entry into buy-side clients
  • Broadens and diversifies the Fidessa trading product suite
FT Partners' Role
  • FT Partners acted as sole strategic and financial advisor to LatentZero and its Board of Directors
  • This transaction marks FT Partners' second significant M&A transaction in the order management systems space; Represented ITG in its acquisition of Macgregor for $230mm