NEW YORK–(BUSINESS WIRE)–ION Funding Group (“ION”) introduced a recapitalization of Broadway Expertise (“Broadway”), a number one supplier of high-performance capital markets options, during which ION is buying a controlling stake alongside Lengthy Ridge Fairness Companions and the Broadway founders.
“Partnering with ION gives the funding to speed up our product roadmap together with workflow automation know-how throughout totally different market segments and asset lessons,” stated Tyler Moeller, co-founder and CEO of Broadway.
“This partnership is transformational for Broadway, permitting us to take a a lot longer-term strategy to how we innovate,” stated Joshua Walsky, co-founder and CTO of Broadway.
“Broadway’s client-first strategy and powerful cloud experience are a wonderful complement to our enterprise and their main providing in FX additional augments our latest acquisition of FX low-latency specialist MarketFactory,” stated Andrea Pignataro, CEO of ION.
Broadhaven Capital Companions served as advisor to Broadway, and Morgan Lewis was counsel. UBS Funding Financial institution acted as unique monetary advisor to ION and Paul Hastings was counsel.
About Broadway Expertise
Broadway Expertise is a number one supplier of high-performance front-office fintech options to sell-side and buy-side purchasers, together with greater than half of the highest 50 banks on the planet. To be taught extra about Broadway Expertise, go to www.broadwaytechnology.com.
About Lengthy Ridge Fairness Companions
Based in 2007, Lengthy Ridge Fairness Companions is a non-public funding agency centered on the monetary companies and enterprise companies sectors. Leveraging deep sector data and an intensive community of trade assets, Lengthy Ridge serves as a value-added accomplice to high-growth companies. For extra data, go to www.long-ridge.com.
About ION Funding Group
ION gives mission-critical buying and selling and workflow automation software program options, knowledge and analytics to monetary establishments, central banks, governments and firms. For extra data, go to www.iongroup.com.