BPE Solicitors in Cheltenham has been instrumental in a takeover deal which has created one of the biggest data businesses of its kind in the world.
Its corporate partner and private deals specialist, Adam Kean, supported by partner Louise Grzasko and solicitor Jodele McConnachie, advised the management team and shareholders of London-based managed data specialist, Ultumus, in a deal which has seen it sold to its long-time partner, Swiss-owned SIX Group AG.
The share sale is said to cement the SIX Group’s ownership of almost 95 per cent of the data marketplace for its highly specific sector.
SIX now has an estimated 7,700 of what it describes as ‘ETF customers’, making it one of the largest ‘exchange traded fund’ calculation houses in the world.
Mr Kean said: ‘It was great to work with Bernie Thurston and the Ultumus team on this transaction. We work with clients to help them achieve their goals, and this transaction was exactly what the team was aiming for.’
Mr Thurston, chief executive officer of Ultumus, said: ‘This further enables us to provide our ETF and index managed data service to trading desks, asset managers and enterprise data management groups, alongside providing our PCF calculation service to more ETF issuers to gain competitive edge.’
By Andrew Merrell