ION Investment Group has entered into a definitive agreement to acquire DASH Financial Technologies (DASH), the options technology and execution provider in the US, from Flexpoint Ford.
The transaction is expected to close in Q2, subject to regulatory approvals and customary closing conditions.
DASH co-founder Peter Marago will continue to serve as CEO of DASH, and the rest of the senior management team will continue to remain.
Marago says the acquisition is “a very exciting moment for our firm as we embark on the next chapter of growth”.
“Under ION's ownership, we will continue to invest in product innovation that drives value for our clients while also benefiting from ION’s global reach and established network of relationships,” Maragos explains.
He adds: “We are incredibly grateful for the contributions and support we received from Flexpoint Ford and are thrilled about what this new partnership allows us to do for our clients.”
Commenting on the acquisition, Andrea Pignataro, ION's CEO, states: “DASH was built on the ethos of great technology, deep domain expertise and strong customer service. DASH’s team is additive to the DNA of our ION Markets division, particularly with their domain expertise in options and customer-centric approach.”
Jefferies LLC served as financial advisor to DASH and Kirkland & Ellis LLP served as legal counsel to Flexpoint Ford and DASH.
The terms of the transaction are not being disclosed.
