London-based private equity firm HgCapital Trust Plc has completed the sale of electronic trading and connectivity solutions provider Ullink to Sweden’s Itiviti, a company backed by Nordic Capital.
The combination of Ullink, a best in class platform for cash equity and derivatives trading solutions and Swedish based Itiviti, a global leader in trading software for banks and trading firms, offering the full spectrum of sell-side capabilities, creates a world-leader in capital markets technology with revenues of over $200 million, 1,000 employees and a local market presence in all major markets of Europe, Asia and the Americas. Due to its scale and diversification, the new company will be a full-service provider for global and regional financial institutions.
Through scale and diversification, the combined group is ideally positioned to take advantage of shifting trends in the financial services industry, including new regulatory requirements such as MiFiD II, which are forcing financial institutions to revise their technological strategies in order to meet new compliance rules. The combined product portfolio supports the complete order cycle across all asset classes and the combined company will be a powerful partner to existing and new customers within the finance industry.
Liberty were appointed to advise the management team of Ullink on their incentive arrangements.