Advised Adaptive Financial Consulting on the Acquisition of Real Logic
2022
Transaction Summary
Strata Partners acted as exclusive corporate finance adviser to Adaptive Financial Consulting Limited (“Adaptive”), the specialist global electronic trading consultancy, on its acquisition of Real Logic Limited (“Real Logic”), a low-latency trading technology development firm.
Real Logic delivers front office solutions for financial services firms in capital markets, developing low-latency trading systems using Aeron, the open-source messaging system, and Aeron Cluster, a technology that provides fault-tolerance through consensus. Aeron is the market-leading messaging system for trading firms concerned with performance, whether deployed on premise or in the cloud, and is a product of years of innovation by the team at Real Logic.
The acquisition of Real Logic is a key strategic development for Adaptive, as it brings Aeron and Aeron Cluster in-house, enhancing Adaptive’s ability to deliver bespoke trading systems for clients. The acquisition also brings over a dozen financial services clients on recurring Aeron support contracts to Adaptive, with significant upsell potential.
The transaction was structured as the acquisition of 100% of the share capital of Real Logic, a UK-based company, and the purchase of the Aeron-related assets of StoneTor LLC, a California-based company. The owners of Real Logic and StoneTor are the creators of Aeron and Aeron Cluster, and are acknowledged world experts in low latency trading systems. Both are joining Adaptive in senior roles in conjunction with the transaction.
Founded in 2012, Adaptive is the partner of choice for ambitious capital and commodity markets participants that are looking to achieve a sustainable competitive edge through the creation of highly differentiated front office systems. From offices in London (HQ), New York, Barcelona and Montreal, Adaptive’s 230+ staff build electronic trading systems for buyside & sellside institutions, brokers, exchanges and venues, and fintechs. These trading systems increasingly are built on Adaptive’s proprietary Hydra Platform.