London Stock Exchange Group (LSEG) has agreed to acquire TORA, a provider of cloud-based trading technology solutions, in a $325m deal.
The transaction is expected to conclude in the second half of this year, subject to regulatory approvals.
Founded in 2004, TORA’s solutions include an order and execution management system (OEMS) and portfolio management system (PMS) that supports customers trading, fixed income, equities FX, digital assets and derivatives.
The deal is expected to strengthen LSEG’s trading capabilities in the digital asset segment at a time when institution customers increasingly seek exposure to crypto and other digital assets.
TARO’s presence Asia and North America and operations in Europe will expand the global footprint of LSEG’s Trading & Banking Solutions.
Furthermore, the deal will allow LSEG customers to utilise a differentiated trading solution, which brings together multi-asset class capabilities of TORA’s software and LSEG’s data and analytics services.
LSEG Trading & Banking Solutions group head Dean Berry said: “Acquiring TORA will enable LSEG to deliver critical ‘at trade’ capabilities for the buy side, seamlessly connecting into our next generation desktop Workspace.”
LSEG Data & Analytics group head Andrea Stone added: “This acquisition is a great example of LSEG’s strategy to provide customers with a global, multi-asset class financial infrastructure that operates across the capital markets and investment lifecycle as an open ecosystem.
“I look forward to working with the team at TORA to support customers in their trading activity and grow our businesses together.”
Following the transaction, TORA will operate as part of LSEG’s Data & Analytics division.
In December 2021, LSEG signed a deal to acquire Quantile Group for a maximum aggregate consideration of up to £274m.