One of the leaders in the cloud computing industry for foreign exchange companies, Beeks Financial Cloud, has announced the acquisition of U.S. based VDIware for an undisclosed seven figure sum, wholly financed from the company’s own coffers.
The firm has also stated in its announcement that it is aiming to double its current turnover to £10 million by the end of 2017 with the CEO of the company Gordon McArthur detailing some prospects for the future: “We plan to grow organically over the next two years. But we are always on the look-out for the self-funded acquisition of a hosting provider to the equities markets. We also haven’t ruled out an AIM flotation if and when the time is right. Watch this space.”
Last year, the Scottish company’s subsidiary Beeks VPS purchased one of its biggest competitors in delivering virtual private server (VPS) connections to foreign exchange traders, Gallant VPS. The deal provided the firm with access to the Equinix NY4 datacenter and became the world’s largest low latency cloud provider for algorithmic Forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term trading.
Following last year’s purchase and the expansion of the company's brand to Beeks Financial Cloud, the parent company has set up a Japanese arm with a staffed office in Tokyo.
The VDIware deal was advised by Berkshire Capital, a New York-based investment bank specialising in mergers and acquisitions in the financial services sector. The bank partnered with U.S. foreign exchange business consultancy Shift Forex.
Expansion into futures markets
Speaking to Finance Magnates, the company’s CEO Gordon McArthur explained, “The acquisition gives us not only extra data centre locations but also direct links to both major futures exchanges in the U.S. - ICE (InterContinental Exchange) and CME (Chicago Mercantile Exchange).
We also have an option to connect to Eurex in Frankfurt, so rather than give us a new technology layer the acquisition really expands what we currently offer i.e. low latency hosting, to a different asset class. VDIWare do futures, which is why we bought the company. It is a diversification play rather than a technology add on,” he explained.
The company has already established itself in the foreign exchange market as one of the leading companies to provide high-speed connectivity to a number of industry players.
“We have an unrivalled reputation in the forex markets and the acquisition of the highly respected VDIware brings our world-beating hosting services to institutional clients in the futures town, Chicago,” Mr McArthur added.
VDIware is based in Chicago’s financial district, the nerve centre of the worldwide futures markets. It has direct connectivity to futures exchanges the CME (Chicago Mercantile Exchange) and ICE (Intercontinental Exchange).
As part of the deal, the company is also getting a new office in the heart of the Chicago Financial District. The firm will keep both Chicago and New Jersey offices to support its Equinix NY4 facilities and the three Chicago data center locations it acquired after the deal with VDIware.
Founders of VDIware join Beeks Financial Cloud
With the acquisition of VDIware, Beeks Financial Cloud now offers institutional investors direct access to futures exchanges in Chicago, Frankfurt, New York, Tokyo and London. It provides ultra-reliable and high speed hosting of servers and market data.
As part of the deal, the founders of VDIware, Pete Johnson and Patrick Rams, have joined Beeks Financial Cloud. They will continue operating from the company’s Chicago office and hold the positions of Vice President of Americas and Group Global Sales Director, respectively.
Mr McArthur elaborated on the appointments, “VDIware has been providing exchange market data which historically we have not, this area in its own right is involved and needs people who understand it.”
Mr Johnson commented on the deal, “We’re looking forward to bringing Beeks’ financial cloud services to our futures clients. For us, it always seemed the perfect fit.”
Set up four years ago by Scottish co-founders Gordon McArthur and Tony Doleman, Beeks Financial Cloud (which also incorporates its subsidiary parting the VPS market BeeksFX VPS) has grown from a £60,000 turnover in year one to a projected £5m this year. The company states that it has reached this milestone 18 months ahead of schedule.
The company currently has 27 employees with plans to reach about 40 by the end of next year.
One of the leaders in the cloud computing industry for foreign exchange companies, Beeks Financial Cloud, has announced the acquisition of U.S. based VDIware for an undisclosed seven figure sum, wholly financed from the company’s own coffers.
The firm has also stated in its announcement that it is aiming to double its current turnover to £10 million by the end of 2017 with the CEO of the company Gordon McArthur detailing some prospects for the future: “We plan to grow organically over the next two years. But we are always on the look-out for the self-funded acquisition of a hosting provider to the equities markets. We also haven’t ruled out an AIM flotation if and when the time is right. Watch this space.”
Last year, the Scottish company’s subsidiary Beeks VPS purchased one of its biggest competitors in delivering virtual private server (VPS) connections to foreign exchange traders, Gallant VPS. The deal provided the firm with access to the Equinix NY4 datacenter and became the world’s largest low latency cloud provider for algorithmic Forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi
Read this Term trading.
Following last year’s purchase and the expansion of the company's brand to Beeks Financial Cloud, the parent company has set up a Japanese arm with a staffed office in Tokyo.
The VDIware deal was advised by Berkshire Capital, a New York-based investment bank specialising in mergers and acquisitions in the financial services sector. The bank partnered with U.S. foreign exchange business consultancy Shift Forex.
Expansion into futures markets
Speaking to Finance Magnates, the company’s CEO Gordon McArthur explained, “The acquisition gives us not only extra data centre locations but also direct links to both major futures exchanges in the U.S. - ICE (InterContinental Exchange) and CME (Chicago Mercantile Exchange).
We also have an option to connect to Eurex in Frankfurt, so rather than give us a new technology layer the acquisition really expands what we currently offer i.e. low latency hosting, to a different asset class. VDIWare do futures, which is why we bought the company. It is a diversification play rather than a technology add on,” he explained.
The company has already established itself in the foreign exchange market as one of the leading companies to provide high-speed connectivity to a number of industry players.
“We have an unrivalled reputation in the forex markets and the acquisition of the highly respected VDIware brings our world-beating hosting services to institutional clients in the futures town, Chicago,” Mr McArthur added.
VDIware is based in Chicago’s financial district, the nerve centre of the worldwide futures markets. It has direct connectivity to futures exchanges the CME (Chicago Mercantile Exchange) and ICE (Intercontinental Exchange).
As part of the deal, the company is also getting a new office in the heart of the Chicago Financial District. The firm will keep both Chicago and New Jersey offices to support its Equinix NY4 facilities and the three Chicago data center locations it acquired after the deal with VDIware.
Founders of VDIware join Beeks Financial Cloud
With the acquisition of VDIware, Beeks Financial Cloud now offers institutional investors direct access to futures exchanges in Chicago, Frankfurt, New York, Tokyo and London. It provides ultra-reliable and high speed hosting of servers and market data.
As part of the deal, the founders of VDIware, Pete Johnson and Patrick Rams, have joined Beeks Financial Cloud. They will continue operating from the company’s Chicago office and hold the positions of Vice President of Americas and Group Global Sales Director, respectively.
Mr McArthur elaborated on the appointments, “VDIware has been providing exchange market data which historically we have not, this area in its own right is involved and needs people who understand it.”
Mr Johnson commented on the deal, “We’re looking forward to bringing Beeks’ financial cloud services to our futures clients. For us, it always seemed the perfect fit.”
Set up four years ago by Scottish co-founders Gordon McArthur and Tony Doleman, Beeks Financial Cloud (which also incorporates its subsidiary parting the VPS market BeeksFX VPS) has grown from a £60,000 turnover in year one to a projected £5m this year. The company states that it has reached this milestone 18 months ahead of schedule.
The company currently has 27 employees with plans to reach about 40 by the end of next year.
