Avelacom makes Brazilian acquisition
Avelacom, the low latency connectivity, IT infrastructure and data solutions provider for global financial markets, today announced the acquisition of ITDN Ltd, an IT trading infrastructure specialist, headquartered in Sao Paulo, Brazil.
The acquisition supports Avelacom’s expansion in Brazil, and further into the Mexican and South American markets, as a part of its strategy to develop a comprehensive and market leading low latency portfolio across emerging markets.
ITDN, founded in 2012, helps local financial services firms and vendors design, implement and operate their IT infrastructure, including support for large-scale fiber deployment projects in Brazil.
Avelacom has purchased a controlling stake in ITDN. ITDN will be rebranded Avelacom and operate as a part of the company’s global team, becoming the San Paulo office, alongside Avelacom’s existing offices in Raleigh, NC, London and Singapore.
Aleksey Larichev, CEO of Avelacom said: “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. 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. 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.”
“This is a great opportunity for us to grow and be a part of one of the most active and successful companies in the fintech landscape. 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,” added Marcos Guimaraes, CEO and founder of ITDN. [Pictured]
The value of the transaction was not disclosed.