BGC Group To Sell KACE Financial Business To SmartTrade Technologies For Upto $119 Mln

(RTTNews) - BGC Group, Inc. (BGC), Thursday announced an agreement to sell the business of kACE Financial, a provider of real-time pricing and advanced analytics platforms for complex FX derivatives, to smartTrade Technologies SAS, a multi-asset electronic trading and payments solutions.

The total consideration of upto $119 million consists of an initial payment of $80 million, and milestone payments of upto an additional $39 million in contingent cash consideration based on defined performance metrics.

The deal, which is expected to close by end of year 2025, is anticipated to deliver significant shareholder value.

In the pre-market hours, BGC is trading at $9.03, up 0.56 percent on the Nasdaq.