The boards of ION and Fidessa announced they reached an agreement on the terms of a recommended all cash offer for Fidessa Group by ION Capital UK. ION will acquire Fidessa for £38.70 per share, valuing it at some £1.5 billion. The offer beat out competitor Temenos, which was also in the running to acquire Fidessa. In a filing, ION said it believes that “Fidessa represents an attractive opportunity to invest in a well-established business with a leading position in equities and derivatives trading solutions.”
The firm added that a combination with Fidessa will uniquely position the companies to “drive innovation” in trading technology and automation across all asset classes, and that customers will greatly benefit from the integration of the respective products and from the increased investment in long term technology innovations.