NovaSparks Gets New Backer in MBO Deal, Eyes Options Data & FPGA Trading Capabilities
With the support of new majority owner Peninsular Capital, NovaSparks plans initiatives to expand the use cases for its FPGA market data technologies into the trading and risk sectors.
NovaSparks has completed a management buy-out (MBO) from its former private equity owner, and found a new backer to help accelerate its expansion, while growing employees’ stake in the company.
The move gives French asset manager Peninsular Capital control of 51% of NovaSparks, which specializes in field-programmable gate array (FPGA) ticker plant and feed handler appliances. Additionally, existing management and staff will double their stake from around 20% to just over 45%. Michaël Lévy, a 30
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