Calypso Technology, a provider of an integrated suite of trading and risk management solutions, announced it is being acquired by two private equity firms.
Bridgepoint, a European private equity fund that is currently investing a €4 billion ($4.52 billion) fund in growth-oriented middle-market businesses in Europe, and Summit Partners, a global growth equity investor currently investing more than $7.2 billion into equity and fixed-income opportunities, purchased the San Francisco-based vendor.
Calypso which was established in 1997, has over 34,000 clients on both the buy side and sell side in more than 60 countries. The firm has over 700 employees in 22 offices across 19 countries. More than half the staff is involved in research and development in one of the five global development centers.
"Today's announcement sees the arrival of a new investor base with the financial strength and shared vision to support our growth ambitions," says Pascal Xatart, president of Calypso. "Our goal now is to become the landmark financial software provider serving institutions with complex treasury and capital markets' needs."
Xavier Robert, a partner responsible for Bridgepoint's investments in the media and technology sector, says the current market sentiment around the importance of risk management makes Calypso an appealing acquisition.
"Constant pressure on financial institutions to improve risk management and return on capital, while at the same time managing margins and increased regulation, has created the need for integrated solutions able to reduce operating costs, improve capital allocation and comply with regulations," Robert said. "Calypso has been at the forefront of addressing this growing demand with a single, integrated platform that is acknowledged as both reliable and scalable across asset classes. We will partner with management as they build on the company's success to date, consolidating its market leadership by continuing to better serve its clients and realizing its true growth potential."
WatersTechnology attended the Futures Industry Association's annual conference in Boca Raton, Florida. These are the takeaways.Subscribe to Weekly Wrap emails