SmartTrade Acquires Ticktrade
Posted by Colin Lambert. Last updated: November 26, 2021
Trading technology provider SmartTrade has acquired Toronto-based TickTrade Systems, the terms of the trade were not disclosed.
The firms say together they will serve a truly global client base across North America, Europe and Asia and that the combination represents a compelling strategic fit providing customers with highly complementary SaaS, electronic FX trading products. The combined company will deliver the SmartTrade’s connectivity, aggregation, and risk management technology with TickTrade’s analytics, payments, and distribution technology.
The company will operate under the SmartTrade name and David Vincent, SmartTrade’s CEO, will lead the combined organisation as its CEO. TickTrade co-founders, Baha Ohcebol and Alexander Culiniac, will maintain senior management roles within the combined business, while also remaining significant investors in the group.
Hg, a software and services investor which has backed SmartTrade since 2020, will remain majority investor in the combined group, along with longstanding investors
Keensight and Pléiade Venture.
“For both SmartTrade and TickTrade customers, the combination is extremely compelling,” says Vincent. “It brings two industry-leading technologies together – one complementing the other, creating a unique breadth and depth of product capabilities.”
Ohcebol adds, “This is great news for TickTrade customers. To have the backing of SmartTrade and Hg means we can significantly build on and continue to innovate the products we know our clients highly value. This also offers further opportunities for product collaboration, wider distribution and cutting-edge innovation – meaning we can bring even better services to even more clients.”