Gresham Technologies, a UK fintech, will be purchased by STG Partners for £147 million.

In a £146.7 million agreement, US-based private equity firm STG Partners is expected to indirectly hold Alliance Bidco Ltd (Bidco), a limited company that is slated to purchase UK fintech Gresham Technologies.

Travon Stracke

April 10, 2024

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A transaction worth 163.75 pence per Gresham share, consisting of a permissible dividend and a cash offer, has been agreed upon by the two companies. This negotiated price per share represents a premium over Monday's closing share price of almost 26.9%.

Subject to shareholder approval, the transaction is anticipated to completion by the third quarter of 2024.

After acquiring Gresham, Bidco plans to combine the fintech with Alveo, another firm in its portfolio that it purchased in January 2023. For the financial services sector, Alveo offers cloud-based data management, analytics, and data-as-a-service.

Marc Bala, MD at STG and a director of Bidco, states, "By combining Gresham with Alveo, we will create a capital markets data management specialist that offers clients greater scale and a range of solutions to facilitate their business processes."

Additionally, according to Bidco, the acquisition represents a “compelling opportunity” to acquire a reputable company that provides “post-trade processing solutions to capital markets participants”.

As a "data control, reconciliation, and post-trade workflow vendor to the financial services sector across the EMEA, North America, and APAC regions," Bidco continues, highlighting the significance of its latest acquisition.

Gresham is a software business that was founded in 1969 and provides automation and data reconciliation solutions to financial services companies. The Clareti software platform, which offers data governance, regulatory compliance, and risk management services, is Gresham's main product.

Gresham chairman Richard Last has commented on the acquisition, stating that it gives the company an excellent opportunity to "realize fair and certain value" and allows it "to continue the Clareti journey started over a decade ago."