ION Investment Group has recapitalized Broadway Technology, a provider of high-performance capital markets solutions. No financial terms were disclosed. ION is acquiring a controlling stake alongside Long Ridge Equity Partners and the Broadway founders.
PRESS RELEASE
NEW YORK–(BUSINESS WIRE)–ION Investment Group (“ION”) announced a recapitalization of Broadway Technology (“Broadway”), a leading provider of high-performance capital markets solutions, in which ION is acquiring a controlling stake alongside Long Ridge Equity Partners and the Broadway founders.
“Partnering with ION provides the investment to accelerate our product roadmap including workflow automation technology across different market segments and asset classes,” said Tyler Moeller, co-founder and CEO of Broadway.
“This partnership is transformational for Broadway, allowing us to take a much longer-term approach to how we innovate,” said Joshua Walsky, co-founder and CTO of Broadway.
“Broadway’s client-first approach and strong cloud expertise are an excellent complement to our business and their leading offering in FX further augments our recent acquisition of FX low-latency specialist MarketFactory,” said Andrea Pignataro, CEO of ION.
Broadhaven Capital Partners served as advisor to Broadway, and Morgan Lewis was counsel. UBS Investment Bank acted as exclusive financial advisor to ION and Paul Hastings was counsel.
About Broadway Technology
Broadway Technology is a leading provider of high-performance front-office fintech solutions to sell-side and buy-side clients, including more than half of the top 50 banks in the world. To learn more about Broadway Technology, visit www.broadwaytechnology.com.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial services and business services sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth businesses. For more information, visit www.long-ridge.com.
About ION Investment Group
ION provides mission-critical trading and workflow automation software solutions, data and analytics to financial institutions, central banks, governments and corporations. For more information, visit www.iongroup.com.
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