ION takes controlling stake in Broadway Tech

ION Investment Group announced a recapitalization of Broadway Technology, a provider of capital markets solutions, in which ION is acquiring a controlling stake alongside Long Ridge Equity Partners and the Broadway founders. Earlier this year, Broadway added repo functionality to its global FICC trading platform.

“Partnering with ION provides the investment to accelerate our product roadmap including workflow automation technology across different market segments and asset classes,” said Tyler Moeller, co-founder and CEO of Broadway, in a statement. Joshua Walsky, co-founder and CTO of Broadway, added that the partnership will allow the firm to take a longer-term approach to how the team innovates.

“Broadway’s client-first approach and strong cloud expertise are an excellent complement to our business and their leading offering in FX further augments our recent acquisition of FX low-latency specialist MarketFactory,” said Andrea Pignataro, CEO of ION, in a statement.

Read the full release

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