ION Investment Group has agreed to acquire Openlink Financial from Hellman & Friedman. No financial terms were disclosed. UBS Investment Bank was financial adviser to ION on the transaction while Centerview Partners LLC did likewise for Openlink. ION is a provider of trading and workflow automation software solutions to financial institutions, central banks, governments and corporations.
NEW YORK, Feb. 2, 2018 /PRNewswire/ — Openlink Financial LLC, a global leader in trading and risk management solutions for the energy, commodities and financial services industries, today announced that ION Investment Group has entered into a definitive agreement to acquire the company from Hellman & Friedman.
The transaction is subject to customary approvals.
Andrea Pignataro, ION’s Chief Executive Officer, said: “Openlink’s solutions and expertise are highly complementary to ION’s business. This acquisition will expand ION’s footprint in energy and financial services. We look forward to partnering with Rich Grossi and his team, and contributing to the firm’s growth and development.”
Ben Farkas, Partner at Hellman & Friedman, said: “Openlink is in a great position to capitalize on its track record, strong customer relationships and the substantial investments made in its product portfolio. We wish the Openlink team continued success under ION’s ownership.”
Rich Grossi, Chief Executive Officer of Openlink, said: “Obtaining the backing of ION marks an exciting opportunity for Openlink, especially after 25 years of industry leadership. Under ION’s ownership we will continue investing in product innovation to bring market-leading solutions to clients and help address their business challenges.”
UBS Investment Bank acted as exclusive financial advisor to ION and provided committed financing in support of the transaction. Linklaters LLP served as legal counsel to ION. Centerview Partners LLC acted as exclusive financial advisor to Openlink. Simpson Thacher & Bartlett LLP served as legal counsel to Hellman & Friedman and Openlink.
About ION Investment Group
ION provides trading and workflow automation software solutions to financial institutions, central banks, governments and corporations. For more information, visit www.iongroup.com.
About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $35 billion of committed capital and invested in over 80 companies. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including business & information services, software, financial services, internet & media, healthcare, retail & consumer, and industrials and energy. For more information on Hellman & Friedman, please visit www.hf.com.
For more than 25 years, Openlink has been providing trading and risk management solutions for the world’s most sophisticated commodity, energy, corporate and financial services organizations. The Openlink Cloud platform and its advanced analytics capabilities enable clients to make better decisions from data, seize market opportunities, and mitigate risk. For more information on Openlink, please visit www.openlink.com.