ICAP plc, the world's leading voice and electronic interdealer broker, said Wednesday it agreed to acquire all of the share capital of Tel Aviv-based Traiana for a reported $238 million in cash and $9m. in shares.
Traiana is a private company and a leading provider of automated post-trade processing services to financial institutions. Its Harmony network is used by over 50 of the world's leading banks and has become the market standard for post-trade processing of foreign exchange transactions. Traiana predicts its annual revenue to be $15m. for the year to January 31, 2008, an increase of some 40% from 2007.