Exegy Incorporated, a leading provider of front-end trading solutions featuring hardware acceleration, forecasting and first-class managed services, announced today that it has acquired Enyx, a leading developer of FPGA-based, high-performance trading solutions. The transaction was supported by Marlin Equity Partners, a global investment firm with more than $ 8.1 billion in capital commitments under management. Operating as Exegy Inc., the combined company is the only global company to offer product packages that use low-latency programmable input matrix (FPGA) technology at all stages of the trading lifecycle.
The deal expands Exegy’s suite of solutions to include Enyx’s line of low-latency FPGA trading products, as well as the addition of an innovative platform for the rapid development of custom trading solutions. This strengthens Exegy’s role as an important partner for companies in the capital markets ecosystem – including those with the most demanding latency requirements.
“For years, financial services companies have faced unsatisfactory choices for their trading infrastructure: fast time-to-market with ready-made components or more time-intensive and resource-tailored internal customization,” said Jim O’Donnell, CEO. of Exegy. “We look forward to integrating the Enyx product with Exegy to create a combined solution that removes any restrictions on ‘build or buy’.”
“We now offer a full portfolio of low-latency products, and our FPGA specialists can help customers create complete solutions based on the leading technologies of both companies. All of this can be improved by Exegy’s innovative line of predictive analytics. ”
Enyx founder and CEO Arno Deras said he was excited by the two companies to join forces to deliver FPGA-based ultra-low latency solutions to a wider audience in the e-commerce community.
“Ten years ago, FPGA-based technologies were inaccessible to most commercial companies and reserved only for those with deep experience,” said Arno Deras, CEO of Enyx. “Enyx is transforming the existing model by providing ready-made components of the technology to a wider range of users. The combination of two technology plants, Exegy and Enyx, will allow commercial companies to reduce time to market and create commercial success.
The acquisition of Enyx by Exegy is the next step in an expansion plan that began nearly a year ago when Exegy merged with Vela Trading Systems, adding Vela’s package for trading, execution and enterprise solutions to create a combined product portfolio. “With each step in our strategic plan, Exegy adds key components and expertise that build value for both existing and new customers. Our goal is simply to strengthen our ability to deliver end-to-end trading solutions that excel in innovation, quality, speed and service, ”said David Taylor, co-chairman and chief technology officer of Exegy.
Taylor said Exegy will integrate the Enyx team, intellectual property and industry expertise to accelerate and expand its roadmaps for hardware-accelerated products and services for market data delivery, forecasting, automated trading and execution.
“The combination of Enyx’s personalized experience in developing FPGAs and Exegy’s comprehensive portfolio of solutions provides the ideal platform for more flexible partnerships with market participants to address a wider range of challenges in the commercial ecosystem,” said Taylor.
Exegy plans to maintain Enyx’s global workforce and will continue to sell, operate and maintain Enyx’s full suite of solutions. “Enyx customers will continue to enjoy the support of existing Enyx products, supported by the existing Enyx team.
Customers will benefit from expanded access to integrated products from the combined company. “This transaction expands our product portfolio in all directions, giving us the flexibility to offer all our customers the best way to speed up their time to value,” said Exegy Chief Revenue Officer Craig Shakhter.
“The decision now is not whether to build on a purchase, but what combination of the two can help customers achieve flexibility and reach the market faster,” Shakhtar said.