First Derivatives Spends £36M to Up Kx Stake

Kx CEO Janet Lustgarten is expected to join First Derivatives' board following the deal

First Derivatives, which has served as a long-term distributor of Kx's Kdb+ database, and uses Kdb+ as the basis for its own Delta product, has paid Kx shareholders £36 million ($58 million) in cash and shares to acquire up to 46.47 percent of Kx's issued share capital, bringing First Derivatives' holding to 65.2 percent in the vendor, assuming all option holders exercise their options.

Officials say the move gives First Derivatives "the complete technology stack" to address Big Data issues, and