Royalblue group plc, the company behind Fidessa, has entered into a conditional agreement to acquire the entire fully diluted share capital of LatentZero Limited, a privately owned supplier of front-office software to investment managers.
LatentZero will continue to operate as a separate entity within the royalblue group. The existing management team, including Richard Jones, co-founder and CEO, and Dan Watkins, co-founder and director, will remain in place as part of the transaction.
LatentZero’s products are used to manage more than $8 trillion of assets across equity, fixed income, foreign exchange and derivatives.
The maximum total consideration for the acquisition is 63 million, comprising an initial consideration of 38 million and deferred consideration for each of the calendar years 2007 and 2008.