Options Technology to Acquire Crossvale to Expand Application Modernization and Private Cloud Capabilities

Options Technology has reached an agreement to acquire the U.S. and European business of application and platform modernization firm Crossvale, in a move aimed at helping financial institutions update legacy systems while maintaining control over data, risk, and regulatory requirements.

The companies said the transaction will center on private cloud services, application modernization, and the deployment of artificial intelligence in regulated markets. Financial terms were not disclosed, and the deal remains subject to regulatory approvals.

According to Options, the combined offering will focus on modernizing legacy environments, reducing technology debt, and supporting institutions that are reassessing their public cloud strategies. The firms noted growing interest in “public cloud repatriation,” as financial organizations seek more predictable costs, stronger operational control, and clearer regulatory oversight.

Options plans to integrate its secure private cloud infrastructure with Crossvale’s expertise in containerization, application modernization, and database migration. Crossvale maintains partnerships with technology providers including Red Hat and VMware, and brings experience with platforms such as OpenShift and Kubernetes.

The two companies said the goal is to provide an integrated stack covering infrastructure, containers, applications, and databases, designed to meet financial services security and compliance standards.

Options Technology President and CEO Danny Moore said the company’s broader strategy is focused on enabling controlled access to advanced computing capabilities for capital markets. Earlier this year, Options activated what it described as the first commercially accessible quantum computing capability in New York City, targeting specific high-value problems rather than experimental use.

The acquisition reflects Options’ efforts to broaden its technology services as financial firms face increasing data volumes and rising pressure to modernize aging systems without compromising regulatory and operational requirements.