mynth
12/2025

KACE FINANCIAL acquired by SMARTTRADE TECHNOLOGIES

UNITED KINGDOM Software / Industry-Specific Software / Financial Services / Banking EV 100M - 350M USD

Context

smartTrade Technologies has acquired kACE Financial to create a unified, multi-asset trading and payments platform. This transformational acquisition combines smartTrade’s low-latency SaaS infrastructure with kACE’s specialized expertise in FX derivatives and complex pricing analytics. The strategic rationale is to address the market's increasing demand for a single, integrated workflow that handles everything from simple spot trading to sophisticated structured products. Following the recent investment from TA Associates, this deal represents a major step in smartTrade's innovation roadmap, specifically accelerating its transition to a fully cloud-native, AI-driven offering. The merger allows the combined group to leverage a global infrastructure and an expanded technical team to deliver lower total cost of ownership (TCO) for its international banking and brokerage clients.

KACE FINANCIAL, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

kACE Financial is a premier financial technology provider specializing in real-time pricing, advanced analytics, and workflow solutions for Foreign Exchange (FX) and interest rate derivatives. Its business model focuses on high-complexity instruments, including Spot, Forwards, Swaps, NDFs, and Structured Products. The company’s value proposition centers on delivering mission-critical risk management and regulatory compliance tools to a global base of financial institutions. Strategically, kACE is renowned for its deep domain expertise in derivatives, providing the sophisticated mathematical engines required for precise valuation and automated trading in volatile markets. By transitioning its legacy strengths into modern analytical frameworks, kACE serves as a vital infrastructure layer for Tier-1 banks and specialized trading desks worldwide.

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Historical Financials (USD)

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2025
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REFERENCES

Valuation range: EV 100M - 350M USD

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: smarttrade technologies