Virtu Financial (VIRT) to Acquire Telecom Assets from Teza Technologies

November 28, 2016 8:33 AM EST

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Virtu Financial (Nasdaq: VIRT) announced its agreement to acquire select strategic telecommunications assets from Teza Technologies, a science and technology-driven global trading firm.

“This transaction supplements Virtu’s core infrastructure while furthering Virtu’s mission to provide attractive liquidity and market making services to the global financial markets in a cost effective manner,” said Douglas A. Cifu, Chief Executive Officer of Virtu.

“We are pleased that the telecommunication networks developed by Teza are a strategic fit for Virtu’s business, and we look forward to the further development of other proprietary technologies as we focus on Teza’s investment management business,” said Misha Malyshev, Chief Executive Officer of Teza.

In connection with the transaction, key telecommunications personnel from Teza will join Virtu’s technology and infrastructure team. The closing of the transaction is subject to customary conditions, including regulatory approval.

Terms of the transaction were not disclosed.

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