Aritas provides a suite of predictive analytics and trade optimization solutions designed to maximize alpha and minimize trading costs for institutional investors.
The purchase does not include the Aritas broker/dealer or the Aritas Block Market.
Portware CEO Alfred Eskandar said that Aritas’ technology assets add advanced artificial intelligence and commission optimization tools to the company’s core offerings.
"This is a natural extension of our broker-neutral trading solutions, and allows us to partner with the entire broker community to maximize the benefit of these advanced analytics," Eskandar said.
Financial terms of the transaction, which is anticipated to close in the second quarter of 2012, were not disclosed.
Broadhaven Capital Partners served as financial advisor and Hogan Lovells served as legal counsel to Aritas while Morgan Lewis served as legal counsel to Portware.
