360T has been sold to Summit Partners
The shareholders of 360T, the provider of a multi-bank, multi-asset trading platform for OTC financial instruments, particularly currency exchange, have sold a majority stake to Summit Partners. The shareholder group is composed of the company founders, management as well as venture capital firms and family offices.
The management team, led by founder and CEO Carlo Koelzer, will continue to be a significant shareholder as well as Brockhaus Private Equity, which will continue to be a shareholder after a partial divesture of its stake. The transaction is pending regulatory approval by BaFin, the financial regulatory authority for Germany, and the German Cartel Office. The terms of the transaction were not disclosed. Summit Partners, as the new majority shareholder, will strengthen 360T’s continuous growth and international expansion into new markets and supports 360T’s strategy in providing a best-in-class trading technology.
360T, based in Frankfurt, Germany, is one of the leading global providers of web-based trading technology for OTC financial instruments, particularly currency exchange, short term money market loan/deposits and interest rate derivatives. Based on its proprietary core technology, 360T’s multi-bank platform provides deep liquidity for corporate treasuries, banks, asset/fund managers as well as for insurance companies and hedge funds.
Summit Partners is a leading growth equity firm that invests in rapidly growing companies with offices in Boston, London, Palo Alto and Mumbai. Founded in 1984, Summit has raised more than USD 14 billion in capital.
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