Avelacom Bolsters Brazil Presence with ITDN Acquisition
Financial industry connectivity provider, Avelacom has strengthened its presence in Brazil with the latest acquisition of Sao Paulo-headquartered ITDN Ltd, which is an IT trading infrastructure specialist.
The official announcement on Wednesday detailed that the acquisition will not only help Avelacom’s expansion into Brazil but further into Mexican and South American markets.
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“We continue to invest for the long-term in low latency infrastructure across new and developing markets. We believe this is essential to facilitate algorithmic trading and to make markets more accessible for both international and local players,” said Aleksey Larichev, CEO of Avelacom.
Founded in 2012, ITDN serves financial services firms and vendors with IT infrastructure support, from design to deployment. Moreover, it is handling one of Brazil’s large-scale fiber deployment projects.
“ITDN helped us deploy the lowest latency route between the Brazilian stock exchange, B3 and North American FX and derivatives markets when we entered Brazil in 2020,” Larichev added. “Now we are excited to work with ITDN as one team and provide our clients with deeper local knowledge and technical support capabilities. Also, with ITDN’s connections, we plan to increase our market share with local financial services firms.”
Taking the Identity of the New Owner
Avelacom has purchased a majority stake in the Brazilian IT firm, which will now operate under the parent’s global team and will be rebranded. However, neither the companies disclosed the financials of the deal.
“Avelacom has an impressive footprint, with unmatched low latency routes across global exchanges, and some of the world’s largest banks and financial institutions are among its clients. By combining ITDN’s experience and Avelacom’s global reach and technical expertise and access to 80+ trading venues, both international and local market players will benefit,” ITDN’s Founder and CEO, Marcos Guimaraes, said.
Avelacom entered Brazil last year by partnering with the Brazilian Stock Exchange (B3). Furthermore, it established a high-speed data route between Sao Paulo and New York.
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