First Derivatives completes acquisition of Kx Systems
Global analytics software business First Derivatives has completed the acquisition of a minority shareholdings in Kx Systems.
The move takes its ownership of Kx Systems to 100pc, for a consideration of $53.8m (€48m) in cash, which was paid from First Derivatives available facilities.
Kx Systems provides companies with high-speed processing of real-time, streaming, and historical data.
Among the businesses that use its products are Aston Martin Red Bull Racing, Airbus, and Commerzbank.
Brian Conlon, CEO of First Derivatives, said: "Since we acquired a controlling stake in Kx Systems in October 2014 we have invested heavily to deliver the performance advantages of our combined solutions, branded as Kx technology, to a range of end-markets."
"We are making exciting progress as we demonstrate our ability to transform our customers' operational performance by unlocking the value in their data. Full ownership of Kx Systems is an important milestone as we continue to commercialise our technology."
Headquartered in Newry, First Derivatives provides software, consulting and data analytics products and services, initially to the investment banking sector but increasingly to non-financial sectors.