Private equity firm TA Associates is in advanced discussions to acquire UK-based data and analytics company FD Technologies in a potential deal valued at £541.6m ($722.8m), according to an announcement from the London-listed target, reports Reuters.
The possible acquisition would see TA Associates take FD Technologies private at a proposed price of 2,450 pence per share – a 27% premium to the company’s previous closing price. The news sent shares of FD Technologies soaring by nearly 19% to £23 in Wednesday trading.
TA Associates initially submitted the proposal in late March, and FD Technologies’ board has indicated it would recommend the bid to shareholders should a formal offer be made. Under the UK’s takeover code, the US-based private equity firm has until 4 June to make a binding bid or walk away.
A deal would mark TA Associates’ latest move in the enterprise software and analytics space, aligning with the firm’s strategy of backing high-growth, data-centric businesses with strong recurring revenue models. FD Technologies, which operates globally with a focus on time-series data solutions, has become increasingly attractive amid rising demand for advanced analytics in financial services and industrial sectors.
Neither FD Technologies nor TA Associates have commented further on deal terms beyond the regulatory disclosure.
