GATElab, an Italy / UK-based company supplying advanced technology for trading and post-trade services around the world, has sold a [67%] stake to leading international exchange business, London Stock Exchange Group.
GATElab believes its achievements in both software and hardware technologies applied to Hyper Low Latency solutions for HFT customers, along with its rich portfolio of cutting edge trading solutions, will be positively enhanced by this transaction.
Ferdinando La Posta, GATElab’s CEO, commented on the transaction: “Our search for a supportive international partner committed to further develop our R&D program and the growth of our business, could not have ended with a better choice. LSEG has played a pivotal role in the industry in recent years, and this transaction underpins our ongoing commitment to support our expanding customer base and our international growth ambitions”.
Antoine Shagoury, LSEG Group Chief Operating Officer and CIO said : “Innovation is a key driver of business success and we are confident that GATElab’s technology and innovative approach will be of great benefit to the Group”.
Antonio Caroselli, President of GATElab and Head of IT, summarized the transaction: “This is a great achievement in the 20+ years of GATElab and a key element in the expansion process of the company towards new markets with more ambitious goals. Current shareholders will continue to maintain a stake in the business and we will look to combines the successful innovative culture of GATElab with the international expertise, reach and skills of LSEG”.