August 2004 -  AKJ has raised new equity through a private placement to Transaction Network Services

Situation

• A K Jensen Group (“AKJ”) is a leader in providing order-routing systems and integrated electronic trading solutions to financial software companies and their end-clients, including banks, brokerages, and fund managers
• The Company commercialised the solution in Q1 2003 and has been growing its infrastructure to accommodate the vertical growth in trading volumes it is experiencing in 2004
• With the aim to become the largest independent order-routing software provider in Europe, AKJ needed to raise new equity to fund the purchase of source code and to meet the UK FSA capital adequacy requirement .

Approach

• ARC Associates (“ARC”) offered project management and ongoing advise to AKJ throughout the programme
• Operating within a tight timescale, ARC provided AKJ with the analysis and structuring options for the investment and introduced AKJ to TNS and facilitated discussions between the two parties
• Together with AKJ, ARC drafted the investment documentation and helped negotiate the key terms of the investment. ARC assisted AKJ with the due diligence process through to closing of the transaction

Transaction

• The transaction was completed on 26 August 2004