Start-up Quantile acquired by London Stock Exchange Group
London Stock Exchange Group (LSEG) has agreed to acquire Quantile Technologies, a provider of portfolio, margin and capital optimisation and compression services for the global financial services market.
LSEG to acquire Quantile for £274m
Quantile was founded in 2015 and caters to banks, hedge funds and other financial institutions trading OTC derivatives.
LSEG will pay a maximum aggregate consideration of up to £274 million to Quantile’s shareholders. The deal is expected to close in 2022.
LSEG says Quantile will be complementary to its global OTC derivatives clearing services and will be available on an open access basis.
Quantile will remain a standalone entity within LSEG’s Post Trade division, reporting to Daniel Maguire, LSEG’s group head of post trade.
Maguire says the acquisition “significantly enhances LSEG’s multi-asset class customer offering across the transaction lifecycle by providing more sophisticated tools and infrastructure for customers to optimise their financial resources and drive greater operational efficiencies in OTC derivatives”.
Andrew Williams, CEO of Quantile, comments that the two companies “share many of the same values, including a culture of innovation”.
