7RIDGE Completes Acquisition of Trading Technologies

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, confirmed that its acquisition by 7RIDGE, a specialized growth equity firm invested in transformative technologies, has been closed on Monday.

As planned upon the signing of the transaction on Oct. 31, Keith Todd has assumed the role of CEO of TT to lead the company as it embarks on this next growth phase.

7RIDGE will fuel TT's organic growth and enable the firm to make targeted strategic acquisitions in the future. Under this new ownership, TT will remain independent and focused on delivering innovative, enterprise-wide solutions for institutional and professional trading.

Fazzaco reported at the beginning of November that, both Cboe Global Markets​, a cutting-edge trading and investment solutions provider, and Singapore Exchange (SGX) have voiced their support of the deal as the limited partners of the fund managed by 7RIDGE. SGX announced​ that it would invest approximately US$200 million in a closed-end fund managed by 7RIDGE.

"Maintaining the firm's independence will allow us to retain the incredible talent within our organization and further strengthen our relationships as a valuable ally to our clients, our partners and the industry. We're excited that 7RIDGE and its strategic limited partners including global exchanges Cboe Global Markets and SGX believe in the future of our company and our vision of becoming the operating system of capital markets," former TT CEO Tim Geannopulos, who remains currently actively engaged with the company, noted.