03 Mar NovitasFTCL advises in deal between Algospan and Pico
Holland FinTech member NovitasFTCL, which is a consultant in the fintech space helping its customers with strategic exits, capital raises, acquisitions, disposals, mergers and MBOs, has helped Algospan in its sale to Pico. Algospan is a UK based provider of instant market data and trading infrastructure that focuses on latency sensitive financial firms. As those firms need to react to instant and fast changes in the market, accurate workable data is needed, which Algospan provides in both raw and normalized forms. Next to this, their end-to-end trading infrastructure includes managed networks, co location services and exchange connectivity. Pico being a group of affiliated managed services providers of multi-asset electronic technologies provides this raw and normalized market data as well. Next to this, US based Pico provides consultancy services as well in its home country.
This acquisition is meant to strengthen Picos presence in Europe and provide clients with faster European availability of Pico managed services, including infrastructure, connectivity and market data. One example for this is Picos plans to integrate AlgoSpan’s licensed Radio Feed™ product technology into its market data offering, from which clients will benefit by minimizing time-to-market and development costs, with a simple high performance protocol-based interface.
NovitasFTCL, based in London, has advised Algospan in this transaction. They have over 45 years of combined experience in the fintech field, finished over 100 transactions in Europe and posses great knowledge of the industry, long standing contracts and the ability to execute complex and often cross border transactions.
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