At what enterprise value was SMARTTRADE TECHNOLOGIES acquired in 2025?

During the acquisition of SMARTTRADE TECHNOLOGIES by TA ASSOCIATES in 2025, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b USD.

What was the EV/EBITDA of SMARTTRADE TECHNOLOGIES when it was acquired by TA ASSOCIATES?

The estimated EV/EBITDA multiple for SMARTTRADE TECHNOLOGIES is in the range of 15x - 25x.

When was SMARTTRADE TECHNOLOGIES acquired by TA ASSOCIATES?

SMARTTRADE TECHNOLOGIES was acquired by TA ASSOCIATES in 2025.

What was the revenue of SMARTTRADE TECHNOLOGIES at the time of the deal?

The revenue of SMARTTRADE TECHNOLOGIES at the time of the deal is estimated to be in the range of 50M - 100M USD.

What was the EBITDA of SMARTTRADE TECHNOLOGIES during the acquisition?

SMARTTRADE TECHNOLOGIES's EBITDA is estimated to be in the range of 25M - 50M USD.

How is the data for the SMARTTRADE TECHNOLOGIES acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the SMARTTRADE TECHNOLOGIES deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.hgcapitaltrust.com/news-insights/news/2025/03-04-2025

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Home Database TMT (Tech, Media, Telecom)SMARTTRADE TECHNOLOGIES

04/2025

SMARTTRADE TECHNOLOGIES acquired by TA ASSOCIATES

FRANCE Software / Industry-Specific Software / Financial Services / Banking EV 500M - 1.5b USD

Context

TA Associates has entered into an agreement to make a strategic investment in smartTrade Technologies, facilitating the full exit of the previous majority investor, Hg. CEO / Co-Founder along with the broader management team, will reinvest significantly alongside TA to drive the next phase of growth. The strategic rationale for the deal centers on accelerating AI-driven product innovation, expanding smartTrade's global reach, and enhancing deployment flexibility in hosting and execution. Under Hg's five-year ownership (2020–2025), the company doubled its revenue, completed its first major North American acquisition, and established a scalable SaaS infrastructure. This transaction marks a key transition for smartTrade, aiming to solidify its leadership in the rapidly evolving digital payments and capital markets technology landscape.

It is worth noting that the fund Hg Capital took control of Smarttrade Technologies through an LBO in 2020.

SMARTTRADE TECHNOLOGIES, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).

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Target

Founded in 1999, SmartTrade Technologies is a leading global provider of multi-asset electronic trading and payments platforms. The company’s business model is built on an end-to-end SaaS and hosted software delivery, enabling financial institutions to develop and run high-performance trading platforms for FX, equities, cryptocurrencies, and derivatives. Its value proposition centers on technological agility and secure, cost-efficient liquidity management through its flagship modular solutions (LiquidityFX and smartFI). Strategically, smartTrade caters to a prestigious global client base, including Tier-1 banks and asset managers, with operations spanning major financial hubs in London, New York, Tokyo, and Singapore. By prioritizing R&D and localized support, the firm has established itself as a best-in-class vendor in the highly regulated and complex capital markets technology sector.

Ent. Value

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Year

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2025

2024

Other operations with SMARTTRADE TECHNOLOGIES

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
12/2025	SMARTTRADE TECHNOLOGIES	KACE FINANCIAL	UNITED KINGDOM	Financial Services / Banking
02/2020	HG CAPITAL	SMARTTRADE TECHNOLOGIES	FRANCE	Financial Services / Banking

REFERENCES

Valuation range: EV 500M - 1.5b USD

Revenue range: 50M - 100M USD

EBITDA range: 25M - 50M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SMARTTRADE TECHNOLOGIES by TA ASSOCIATES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: smarttrade technologies

Acquirer: ta associates