smartTrade to Acquire BGC’s kACE Division in Deal Valued Up to $119 Million

​smartTrade Technologies has agreed to acquire kACE Financial from BGC Group in a transaction valued at up to $119 million. The deal structure includes an upfront payment of $80 million, with an additional $39 million contingent on performance-linked targets.

The acquisition is designed to integrate kACE’s derivatives pricing and analytics capabilities into smartTrade’s existing infrastructure. The stated goal is to create a unified platform that manages workflows from analytics to execution across a broad range of asset classes, including foreign exchange, fixed income, rates, digital assets, and money markets.

"This is a transformational moment for our joint clients," said David Vincent, CEO and Co-Founder of smartTrade. He noted that the integration of kACE's technology would allow the firm to deliver a "truly end-to-end solution that offers a clear competitive advantage."

For BGC Group, the divestiture represents a strategic shift to focus on scaling its Fenics platforms. BGC Co-CEO Sean Windeatt commented that the transaction "delivers significant value for our shareholders" while positioning kACE for its next chapter.

The transaction is expected to close by the end of 2025, subject to customary regulatory approvals. Following the deal, TA Associates will continue as the majority investor in the combined entity.