London Stock Exchange Group (LSEG) has purchased a 67% stake in an Italian and UK based technology company, GATElab, which provides advanced trading and post trade services technology globally.
Additional financial terms of the deal have not been disclosed.
The deal will enable LSEG to develop and diversify its business, as well as boost the group’s expertise and leadership in trading and post trade technology.
LSEG Group chief operating officer and CIO Antoine Shagoury said, "Innovation is a key driver of business success and we are confident that GATElab’s technology and innovative approach will be of great benefit to the Group."
GATElab president and IT head Antonio Caroselli commented, "Current shareholders will continue to maintain a stake in the business and we will look to combine the successful innovative culture of GATElab with the international expertise, reach and skills of London Stock Exchange Group."
Established in 1989, GATElab operates as a financial software company and delivers broker trading platforms and trading technology.
LSEG manages London Stock Exchange; Bursa Italian; MTS, Europe’s fixed income market; and Turquoise, which provides UK and Russian derivatives trading, pan-European and US lit and dark equity trading.