CameronTec Agrees to Buy Greenline: Combination Creates Industry’s Most Powerful Trading and Connectivity Technology Offering
· CameronTec and Greenline sign definitive acquisition agreement
· Consolidation highly complementary to CameronTec’s existing business
· Merger extends CameronTec’s capabilities creating the most comprehensive end-to-end trading technology and services platform
· FIX users to benefit from combined products and professional services from world leader
· MarketAxess to continue as Greenline customer
FOR IMMEDIATE RELEASE, CHICAGO & LONDON, Tues. 1 October 2013: CameronTec, the global standard in connectivity technology and trading infrastructure today announced a definitive agreement to acquire US-based Greenline Financial Technologies, a leading provider of FIX and electronic trading technology solutions and services and wholly-owned subsidiary of MarketAxess Holdings Inc. (Nasdaq: MKTX). The transaction is expected to close in the fourth quarter of 2013.
Since 2000, Chicago-based Greenline Financial Technologies has specialized in the high end development of customized integration, testing and management solutions for Financial Information Exchange (“FIX”)-related products and services, designed to provide greater efficiencies for the electronic trading of all asset classes and other exchange-based products. Its suite of industry-leading FIX testing and certification solutions is complemented by its globally renowned professional services business.
CameronTec CEO Anders Henriksson says the merger with Greenline creates a clear category leader in the FIX world and signals a new era: “Today’s announcement is great news for the global electronic trading community. Greenline’s superior FIX operational technology and services coupled with CameronTec’s leading connectivity technology and trading tools creates a compelling end-to-end trading and services platform for the global financial industry. For existing FIX customers as well as the broader financial services community, this is a particularly positive development as it delivers extended value from integrated products and signals a sharper customer focus, stronger development investment and even more powerful deployments. Greenline’s CEO Josh Tolman will make a welcome addition to our executive management team.”
“Recently Greenline has been pushing into several protocols beyond FIX which is directionally aligned with CameronTec’s technology strategy and capabilities,” says Max Colas, Chief Strategy Officer for CameronTec. “The combination of Greenline’s investment with our latest Catalys messaging platform development will accelerate the delivery of a unique and powerful platform for processing, testing and managing all converging financial flows; from front-office to back-office, across all asset classes, globally.”
The Greenline acquisition includes a substantial line of products covering its flagship product suite, VeriFIX®, CertiFIX®, MagniFIX®, MetriFIX® and Exchange Central, for delivering end-to-end global connectivity solutions for any electronic trading environment using or migrating to FIX and proprietary protocols. The agreement also sees CameronTec assume Greenline’s product and professional services agreements that cover customers in the US, EMEA and Asia Pacific.
Greenline has employees located in Chicago, New York, Boston, London, and Hong Kong.
CameronTec recently announced the acquisition of London-based E2E infotech, the professional services and integration solutions provider for electronic trading and capital markets.
CameronTec with Greenline will be exhibiting at the upcoming FIX Australia Conference in Sydney on October 16.