London Stock Exchange Group to acquire TORA, a cloud-based provider of trading technology solutions

The London Stock Exchange Group (LSEG), operator of the London Stock Exchange, has agreed to acquire TORA, a cloud-based trading technology provider.

.@LSEGplc to acquire @ToraTrading a leading cloud-based provider of trading technology solutions. Read our press release here: https://t.co/ppAWulmNLZ pic.twitter.com/ZYtn321d92

— LSEG (London Stock Exchange Group) (@LSEGplc) February 22, 2022

The deal is valued at $325 million. The parties expect to close in the second half of 2022, subject to regulatory approvals.

Founded in 2004, TORA provides an order- and execution-management system, as well as a portfolio-management tool for clients trading equities, fixed-income securities, currencies, derivatives and digital assets.

LSEG noted that the deal would bolster its presence in a fast-growing segment as institutional investor interest in cryptocurrencies grows.

The acquisition will also allow LSEG to geographically expand its business via TORA’s operations in Asia, North America and Europe.

“This will enable clients to benefit from a differentiated trading solution that combines TORA’s multi-asset-class software capabilities with LSEG’s data and analytics services,” the group said.

Upon completion of the deal, TORA will become part of LSEG’s Data and Analytics division.

In 2021, deal volumes in the cryptocurrency industry reached $55 billion, up from $1.1 billion a year earlier, according to PwC.