A K Jensen Group Limited ("AKJ"), the technology and brokerage business that connects hedge fund customers to global markets, has raised funds by means of a private placement to Transaction Network Services (UK) Ltd ("TNS"), a leading supplier of data communication services for transaction-orientated applications. The deal consideration is undisclosed.
This deal provides AKJ with new equity to fulfil their strategy of becoming the largest independent order-routing software provider in Europe. AKJ needed to raise equity in order to fund the purchase of source code and to enable the next phase of marketing activity as well as provide for future UK FSA capital adequacy requirements. Over the past 36 months, AKJ has attracted a team of seasoned mangers, including Richard Kilsby (former Executive Director of London Stock Exchange, CEO of Tradepoint, Vice Chairman of Virt-x, and Director of Instinet), Stuart Adams (former CEO of BRUT Europe and Institutional Sales Director of Instinet), Alan Wheatley (former Chairman of 3i and former Deputy Chairman of Cable and Wireless), and Malcolm Donaldson (former CEO of GL Trade LNE).
ARC Associates, ("ARC") the specialist investment banking and advisory firm to the TMT, financial Services and property sectors, acted as financial advisors to AKJ in this transaction. "We are thrilled that we have found a shareholder of TNS's stature and market position. We believe that this participation undoubtedly will have positive implications for both the TNS and AKJ clients" said Anders Jensen, AKJ founder and Chairman."
AKJ is a leader in providing order-routing systems and integrated electronic trading solutions on an aggregated pricing basis, to financial software companies and their end-clients, including banks, brokerages, and fund managers. The Company's main product is its proprietary global order-routing network; AKJ ExNet. AKJ has a well established global sales force currently servicing institutional end-clients to smaller, domestic brokerages. The Company has offices in Oslo, Madrid, London, Paris, Miami, Rio de Janeiro, and Dubai.
TNS provides transaction transport solutions to the UK's banks and card processors.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000