Traiana bought by ICAP

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.

By MATTHEW KRIEGER
October 11, 2007 07:00

 
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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.

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