Companies’ combined product suite eliminates the ‘build or buy’ dilemma for firms
St. Louis, MO, New York, NY and Paris, France – May 10, 2022 – Exegy Incorporated, a leading provider of front-office trading solutions differentiated by hardware acceleration, predictive analytics, and premium managed services, today announced 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 over $8.1 billion of capital commitments under management. Operating as Exegy Inc., the combined company is the only global firm offering a product suite that leverages low-latency field-programmable gate array (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 adding an innovative platform for the speedy development of bespoke trading solutions. This strengthens Exegy’s role as a vital partner for firms across the capital markets ecosystem – including those with the most demanding latency requirements.
“For years, financial services firms were faced with an unsatisfying choice for their trading infrastructure: fast time-to-market with off-the-shelf components, or a more time and resource intensive in-house custom build,” said Jim O’Donnell, CEO of Exegy. “We are looking forward to integrating the Enyx product with Exegy to create a combined solution that removes any ‘build or buy’ limitations.”
“We now offer a full portfolio of low-latency trading products, and our FPGA specialists can assist customers in creating comprehensive solutions based on the leading technologies from both companies. All of which can be enhanced by Exegy’s innovative predictive analytics line.”
Enyx founder and Chief Executive Officer Arnaud Derasse said he was excited for the two companies to join forces to provide ultra-low latency FPGA-based solutions to a wider audience within the electronic trading community.
“Ten years ago, FPGA-based technologies were out of reach for most trading firms and reserved only for those with deep expertise,” said Arnaud Derasse, CEO of Enyx. “Enyx transformed the existing model by providing off-the-shelf components of the technology to a more comprehensive range of users. The combination of two technology powerhouses, Exegy and Enyx, will enable trading firms to reduce time-to-market and create commercial success.”
Exegy’s acquisition of Enyx is the next step in an expansion plan that began nearly a year ago when Exegy merged with Vela Trading Systems, adding Vela’s suite of trading, execution, and enterprise solutions to create a combined product portfolio. “With each step in our strategic plan, Exegy is adding key components and expertise that build value for both existing customers and new clients. Our goal is simply to strengthen our ability to deliver end-to-end trading solutions that are differentiated by their innovative capabilities, quality, speed, and service,” said David Taylor, Exegy’s Co-President and Chief Technology Officer.
Taylor said Exegy will integrate Enyx’s team, intellectual property, and industry expertise to accelerate and expand its roadmaps for hardware-accelerated products and services for market data delivery, predictive analytics, automated trading, and execution.
“The combination of Enyx’s custom FPGA development expertise and Exegy’s comprehensive portfolio of solutions provides the ideal platform to partner more flexibly with market participants to address a wider range of challenges in the trading ecosystem,” Taylor said.
Exegy plans to retain Enyx’s global workforce and will continue to sell, operate, and support the full suite of Enyx solutions. “Enyx clients will continue to enjoy the support of existing Enyx products, backed by the existing Enyx team.”
Customers will benefit from expanded access to integrated products from the combined company. “This deal expands our product portfolio in every direction, providing the flexibility to offer all our customers the best path to accelerate their time-to-value,” said Exegy Chief Revenue Officer Craig Schachter.
“The decision now is not whether to build versus buy, but what combination of both can help clients achieve flexibility and get to market quicker,” Schachter said.
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $8.1 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
About Exegy®, Inc.
Exegy is a global leader in low-latency market data, execution technology, trading platforms and predictive signals. Backed by Marlin Equity Partners, Exegy serves as a strategic partner to the complete ecosystem of buy side, sell side, exchanges and ISV/technology firms globally. At the heart of Exegy solutions are fully managed, high-performance and scalable solutions powered by purpose-built appliances, hardware-acceleration, artificial intelligence, enterprise software and service automation technologies derived from an extensive patent portfolio. Headquartered in St. Louis with regional offices in the U.S., U.K., and Asia-Pacific regions, Exegy has a global footprint to deliver excellent support and managed services to its customer base. For more information, visit us at www.exegy.com and follow Exegy on LinkedIn and Twitter.
Enyx is a leading developer and provider of ultra-low latency FPGA-enabled technologies and solutions for the financial, telecommunications, and high-performance computing industries. Focused on delivering higher performance with a lower datacenter footprint, Enyx provides off-the-shelf, end-to-end solutions for the finance industry. The Enyx stack includes ultra-low latency market data normalization and distribution, order execution and in-hardware algo acceleration. Additionally, the Enyx product range features wireless network solutions and a complete FPGA development framework compatible with a range of FPGA platforms. Among our clients are financial service providers, exchanges, market data vendors, investment banks, brokers, and investment funds. Enyx offers global support to our clients with locations in Paris, New York, Montréal, London, and Hong Kong.
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