LONDON: TA Fund XP, through its subsidiary KAIROS Bidco, has agreed to acquire FD Technologies in a deal valued at approximately £570 million, the company announced Thursday.
Under the terms of the recommended acquisition, shareholders of FD Technologies will receive £24.50 in cash per share. As an alternative, eligible shareholders may opt for Rollover Shares at a ratio of 2,450 Rollover Shares per FD Technologies share.
TA Fund XP praised FD Technologies’ strategic repositioning of its KX business, noting its leadership in data and analytics software. Since acquiring KX in 2019, FD Technologies has enhanced its software solutions powered by KX’s advanced database and analytics engine. The company further sharpened its focus on KX in 2024 by divesting its First Derivative consulting business to EPAM.
Donna Troy, chair of FD Technologies, said the agreement allows shareholders to realize value at a significant premium, adding that KX is well-positioned for future growth.
Seamus Keating, CEO of FD Technologies, highlighted TA’s experience in supporting global software companies, calling it a “suitable and appropriate partner” for stakeholders.
Ashok Reddy, CEO of KX, emphasized the company’s role in AI and analytics, stating that TA’s expertise will accelerate product innovation.
TA Fund XP’s Co-Managing Partner Hythem El-Nazer said the firm sees KX as well-positioned to meet the growing demand for real-time data insights.
The acquisition, once finalized, will mark a significant step in FD Technologies’ evolution as a pure-play database software company.