LSEG ACQUIRES A MAJORITY STAKE IN GATELABFeb 11 2013 - 12:00
London Stock Exchange Group acquires a majority stake in GATElab
London Stock Exchange Group (LSEG) announced that it has acquired a 67% stake into GATE lab, an Italian and UK based technology company supplying advanced trading and post trade services’ technology around the world.
The acquisition aligns with London Stock Exchange Group’s stated strategy to grow and diversify its business, and further enhances the Group’s expertise and leadership in trading and post trade technology.
Antoine Shagoury, LSEG Group Chief Operating Officer and CIO said: “Innovation is a key driver of business success and we are confident that GATElab’s technology and innovative approach will be of great benefit to the Group.”
Ferdinando La Posta, GATElab’s CEO, commented on the transaction: “Our search for a supportive international partner committed to further develop our R&D program and the growth of our business, could not have resulted in a better choice. London Stock Exchange Group has played a pivotal role in the industry in recent years, and this transaction underpins our ongoing commitment to support our expanding customer base and our international growth ambitions.”
Antonio Caroselli, President of GATElab and Head of IT, added: “This is a great next step in GATElab’s 20 year history and key for the company’s ambitious growth plans. Current shareholders will continue to maintain a stake in the business and we will look to combines the successful innovative culture of GATElab with the international expertise, reach and skills of London Stock Exchange Group.”
GATElab is a financial software company, founded in 1989, specialising the provision of broker trading platforms and proprietary trading technology. GATElab had annual revenues of approximately Euro 4.5 million in 2012. GATE lab’s technology is MIFID compliant and supports manual, automatic and algorithmic trading, smart order routing for equities, bonds and HFT.
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About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Bursa Italian; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access to an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages over 200,000 equity, bond and alternative asset class indices.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,900 people.
Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.