7RIDGE has completed the acquisition process for Trading Technologies International. The latter is a developer of trading software, connectivity and data solutions.

7RIDGHE, a specialized growth equity firm, received support from the Singapore Exchange (SGX) and the Cboe Global Markets to make this acquisition.

7RIDGE acquires Trading Technologies to boost growth

7RIDGE and Trading Technology agreed to the acquisition deal in late October. This deal was to boost the organic growth of Trading Technologies. Additionally, it will also benefit 7RIDGE in its future plans for strategic acquisitions.

The founder of 7RIDGE, Carsten Kengeter, commented on the technological capabilities of Trading Technologies and how this would aid the two companies to boost efficiency and achieve growth in the global financial market.

“The firm has built the market-leading SaaS-based modular multi-tenant platform for professional derivatives trading that will bring new efficiencies and strength to the global financial system. Our own operating experience, as well as that of our limited partners, will strengthen TT’s position as the operating system of capital markets,” Kengeter noted.

Trading Technologies is a developer for Software-as-a-Service solutions. The platform specifically offers SaaS services to platforms dealing in derivatives trading. Some of the firm’s leading clients include brokerage firms and futures commission merchants (FCM).

Keith Todd takes over as new CEO

One of the conditions of this acquisition deal was the appointment of Keith Todd as the new CEO for Trading Technologies. Todd will be replacing Tim Geannopulos, the former chief executive.

Todd has many years of experience in the financial sector. During his 20 years working in the financial market, he had held several managerial positions in various companies. Commenting on his appointment as CEO, Todd noted that Trading Technologies had an “aggressive roadmap” to expand its products and markets.

“I have long been a firm believer in the power of SaaS to deliver to clients better technology, greater cost savings and more efficient use of resources. I’m excited by this opportunity to lead TT into its next transformational phase with its outstanding new SaaS platform and the infusion of growth capital from 7RIDGE,” he further added.