TA Associates, Spectrum Equity invest in BATS Global Markets
BATS is an operator of securities markets in the US and Europe.
Financial terms of the acquisition were not disclosed.
“BATS has consistently delivered best-in-class solutions for the United States’ cash equities and equity options markets and the pan-European cash equities market,” Ken Schiciano, a managing director at TA Associates, said in a statement. “BATS’ talented management team and proprietary high-performance technology have enabled the company to maintain its market share and position the company for future growth. Given TA’s successful history of investing in the financial technology sector, we are looking forward to partnering with the BATS management team.”
Spectrum Equity managing director Chris Mitchell will serve as a director on the BATS board, the firms said in a press release.Chris Reidy can be reached at email@example.com.