Clearlake Capital Group, L.P., together with its affiliates, Clearlake and Motive Partners, has acquired BETA+ assets from the London Stock Exchange Group (LSEG). Effective immediately, the companies will operate as BetaNXT.
The BETA+ assets acquired in the agreement include BETA Post-trade Processing, Maxit, and Digital Investor.
In connection with the closing, BetaNXT has announced a new leadership team. The company will be led by Motive co-founder Stephen Daffron as chairman and CEO.
Daffron will be joined by Caroline O’Connell as chief administrative officer, Don Henderson as chief technology officer, Tim Rutka as president of BETA, and Michael Pass as president of Maxit and Digital Investor.
Additionally, Clearlake and Motive Partners have formed a long-term partnership with LSEG, through which LSEG will work with BetaNXT providing content, data, and tools.
Daffron says: “Leveraging the proprietary industry expertise of our experienced leadership team and exceptional partnerships with Clearlake, Motive and LSEG, our immediate focus will be on delivering for customers by executing our core platform technology roadmap and investing in product functionality enhancements that improve customers’ experience with us.”
Rutka adds: “We are excited to have Clearlake and Motive supporting us, as they bring with them a wealth of industry knowledge and experience to help us deliver new products and efficiencies for our clients.”
