BGC Group, Inc. recently announced a definitive agreement. The company will sell kACE Financial to smartTrade Technologies SAS. This significant Trading Technology Sale values kACE at up to $119 million. kACE Financial provides advanced analytics platforms. These platforms serve complex FX derivatives markets. smartTrade Technologies is a leader in multi-asset electronic trading. Therefore, this transaction marks a major strategic shift for BGC. The deal includes an initial payment of $80 million upfront. Furthermore, up to $39 million is contingent cash consideration. This contingent payment depends on defined performance metrics. They expect to receive some of this amount in 2026. This move demonstrates BGC’s commitment to creating shareholder value.
Unlocking Value Through Divestiture
Sean Windeatt, Co-CEO of BGC Group, spoke about the kACE team’s success.
“We are proud of the FX options pricing and analytics franchise the kACE team has developed within BGC. The transaction delivers significant value. It also positions kACE for an exciting new chapter. BGC will now focus on growing its Fenics platforms. These are high-margin, technology-driven offerings.”
David Vincent, CEO of smartTrade, called the deal a transformational moment.
“kACE brings a world-class team. Consequently, they gain sophisticated FX derivatives technology. This technology is highly complementary to smartTrade’s offerings. The integration creates an end-to-end solution for clients.”
This strategic Trading Technology Sale is expected to close soon. The deal should be finalized by the end of 2025. This allows BGC to further streamline its business model. This decisive Trading Technology Sale highlights the active M&A market.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Businesswire.com
