royalblue to Acquire LatentZero
royalblue has entered into a conditional agreement to acquire the entire fully-diluted share capital of LatentZero. LatentZero will continue to operate as a separate entity within the royalblue group and the existing management team, including Richard Jones, co-founder and CEO and Dan Watkins, co-founder and director, will remain in place as part of the transaction. The maximum total consideration for the acquisition is £63m comprising an initial consideration of £38m and deferred consideration for each of the calendar years 2007 and 2008. From the acquisition, royalblue hopes to realise the potential for true integration of multi-asset buy-side and sell-side trading flows on a significant scale, as well as both companies being able to leverage the other’s services within their own existing customer base. royalblue and LatentZero also believe that the growing sophistication of trading and the increasing regulatory burdens will continue to fuel demand for automation of business flows in both the buy-side and the sell-side and the need for rapid communication and information flow between the two sides will become increasingly important over the coming years.