Post transaction, the acquirer will use the technology and expertise of both companies to boost overall liquidity, transparency and efficiency for broker dealers, retail and middle market investors.
Tradeweb Markets CEO Lee Olesky said that acquiring BondDesk is a natural step forward for the firm, which broadens its established retail offering to benefit customers with the next level of innovation and service in retail fixed income.
"As demand for liquidity in institutional and retail fixed income markets intersects, Tradeweb will continue to evolve market structure by providing our buy- and sell-side clients with efficient electronic marketplaces," Olesky added.
BondDesk Group chairman & CEO Howard Edelstein commented, "Now BondDesk clients will receive the added benefit of Tradeweb’s strong institutional experience and presence at a time when retail and institutional fixed income businesses are converging."
Goldman Sachs and Broadhaven Capital Partners were hired to offer exclusive financial advice to Tradeweb and BondDesk, respectively.
Fried, Frank, Harris, Shriver & Jacobson acted as outside counsel to Tradeweb Markets, while Pepper, Hamilton served BondDesk for the transaction.
