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
- 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 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