Broadway Technology acquires Barracuda FX for wealthtech push
Broadway Technology, provider of high-performance fixed income and foreign exchange solutions, has acquired the entirety of Barracuda FX, a provider of FX order management technology.
With this acquisition, Broadway will continue to expand its product suite and deliver its multi-asset solutions across more parts of the investment lifecycle automating additional workflows.
Broadway will retain the full Barracuda FX team and Barracuda FX will continue to operate as an independent company run by Kieran Fitzpatrick, CEO and Maurice Curran, COO.
Additional terms of the deal were not disclosed.
Both executives will also assume senior roles leading Broadway’s FX business, as head of FX and head of FX operations, respectively. Broadway will continue to offer Barracuda FX on a standalone basis, with no impact to any existing Barracuda integrations.
“With this acquisition, we are continuing to invest in our ability to deliver a full-stack, multi-asset front-office platform that helps them meet these challenges,” says Tyler Moeller, CEO, Broadway Technology.
Moeller continues: “This management expansion enables us to continue leading innovation in both FX and Fixed Income on our unified multi-asset platform, while focusing on each segment as its own distinct market with unique structures, business needs and customer demands.”
Barracuda clients can also take advantage of Broadway’s outsourced hosting capabilities and future integration with their suite of products.