Virtu Financial Acquires Select Strategic Telco Assets from Teza Technologies
November 28 2016 - 8:30AM
Virtu Financial (NASDAQ:VIRT) announced today its agreement to
acquire select strategic telecommunications assets from Teza
Technologies, a science and technology-driven global trading firm.
“This transaction supplements Virtu’s core infrastructure while
furthering Virtu’s mission to provide attractive liquidity and
market making services to the global financial markets in a cost
effective manner,” said Douglas A. Cifu, Chief Executive Officer of
Virtu.
“We are pleased that the telecommunication networks developed by
Teza are a strategic fit for Virtu’s business, and we look forward
to the further development of other proprietary technologies as we
focus on Teza’s investment management business,” said Misha
Malyshev, Chief Executive Officer of Teza.
In connection with the transaction, key telecommunications
personnel from Teza will join Virtu’s technology and infrastructure
team. The closing of the transaction is subject to customary
conditions, including regulatory approval.
Terms of the transaction were not disclosed.
About Virtu Financial, Inc.: Virtu is a leading
technology-enabled market maker and liquidity provider to the
global financial markets. We stand ready, at any time, to buy or
sell a broad range of securities, and we generate revenue by buying
and selling large volumes of securities and other financial
instruments and earning small amounts of money based on the
difference between what buyers are willing to pay and what sellers
are willing to accept, which we refer to as "bid/ask spreads." We
make markets by providing quotations to buyers and sellers in more
than 12,000 securities and other financial instruments on more than
235 unique exchanges, markets and liquidity pools in 36 countries
around the world. We believe that our broad diversification, in
combination with our proprietary technology platform and low-cost
structure, enables us to facilitate risk transfer between global
capital markets participants by supplying liquidity and competitive
pricing while at the same time earning attractive margins and
returns.
Cautionary Note Regarding Forward-Looking
StatementsThe foregoing information contains certain
forward-looking statements that reflect the company's current views
with respect to certain current and future events and financial
performance. These forward-looking statements are and will be, as
the case may be, subject to many risks, uncertainties and factors
relating to the company's operations and business environment which
may cause the company's actual results to be materially different
from any future results, expressed or implied, in these
forward-looking statements. Any forward-looking statements in this
release are based upon information available to the company on the
date of this release. The company does not undertake to publicly
update or revise its forward-looking statements even if experience
or future changes make it clear that any statements expressed or
implied therein will not be realized. Additional information on
risk factors that could potentially affect the company's financial
results may be found in the company's filings with the Securities
and Exchange Commission.
Contact
Investor RelationsAndrew SmithVirtu Financial,
Inc.(212) 418-0195investor_relations@virtu.com
Media Relationsmedia@virtu.com
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