Calypso Technology, Inc. (‘Calypso’), a leading provider of capital markets software, announced today that it is to be acquired by European private equity fund Bridgepoint and global growth equity investor Summit Partners. The acquisition will support Calypso’s next phase of growth and continued innovation leadership in capital markets technology.
Established in 1997, Calypso offers an integrated suite of trading and risk management solutions used by over 34,000 market professionals in more than 60 countries. Calypso's cross-asset, front-to-back architecture was designed from the outset to enable systems consolidation, enterprise risk management and rapid access to new markets for its customers. Clients today range from global and local banks to asset managers, clearing houses, central banks, custodians, insurance companies and treasuries of large corporations. Calypso has over 700 employees and operates a network of 22 offices in 19 countries. Over 50% of the company's employees are engaged in R&D across 5 global development centers.
Pascal Xatart, President of Calypso, said: 'Today's announcement sees the arrival of a new investor base with the financial strength and shared vision to support our growth ambitions. Capital markets require both resilient and innovative technology and Calypso's solutions support our clients' most critical operations. We are recognized as a market leader with a reputation for ease of use, innovation and customer satisfaction. Our goal now is to become the landmark financial software provider serving institutions with complex treasury and capital markets needs.'
Xavier Robert, partner responsible for Bridgepoint's investments in the media & technology sector, said: 'Constant pressure on financial institutions to improve risk management and return on capital, while at the same time managing margins and increased regulation, has created the need for integrated solutions able to reduce operating costs, improve capital allocation and comply with regulations. Calypso has been at the forefront of addressing this growing demand with a single, integrated platform that is acknowledged as both reliable and scalable across asset classes. We will partner with management as they build on the company's success to date, consolidating its market leadership by continuing to better serve its clients and realizing its true growth potential.'
Scott Collins, managing director at Summit Partners, added: 'We are pleased to partner with Calypso management and Bridgepoint to invest in this outstanding treasury and capital markets software business. At Summit, we have deep experience investing in financial technology, and we believe that the core strengths of Calypso's unified technology architecture, the company's focus on innovation and a strong commitment to client service will continue to drive growth in the years to come.'
The transaction is subject to standard competition authority clearances. Debt for the transaction was provided by Goldman Sachs, UniCredit, Crédit Agricole, Mizuho and Bank of Ireland.
Advisors involved included:
- for Calypso: Wilson Sonsini Goodrich & Rosati
- for Bridgepoint and Summit Partners: Credit Suisse, Latham & Watkins, Kirkland & Ellis, Bain & Company, EY
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