Thoma Bravo Agrees to Buy Stake in Trading Technologies

Private equity firm Thoma Bravo has bought stakes in Trading Technologies, a capital markets technology provider, for “the next phase of the company’s growth.” Although the official announcement did not disclose the terms of the deal, Bloomberg reported that the transaction was over $1 billion.

The deal is expected to close in the fourth quarter of 2025, following the necessary regulatory approvals.

The Existing Owner Will Continue to Hold Stakes

Despite the agreement with the new stakeholder, 7RIDGE will continue to hold stakes in the tech provider. 7RIDGE acquired Trading Technologies in 2021, although the purchase price was never officially disclosed.

However, according to Global Trading, Trading Technologies was valued at $500 million during its acquisition deal in 2021. The purchase was supported by Cboe and Singapore Exchange, two limited partners of the 7RIDGE-managed fund.

“With the backing of these two great partners, TT is in its strongest position to date to become the operating system for the capital markets,” said Justin Llewellyn-Jones, Trading Technologies’ CEO, who took over the top role earlier this year.

Read more: New Trading Technologies' Tool Lets Traders See Margin Impact Before Hitting Buy

A Growing Company

Trading Technologies offers a Software-as-a-Service (SaaS) platform specifically for derivatives trading. According to the company, its clients include top futures commission merchants (FCMs) and brokers globally, along with leading buy-side institutions.

Although Trading Technologies, being a private company, does not disclose its financials, its former CEO, Keith Todd, revealed in a media interview that annual revenue was up from $98 million in 2021 to about $170 million in 2024.

Growjo’s data service now estimates Trading Technologies’ 2025 revenue to be around $224 million.

“TT has rapidly evolved into a modern, industry-leading platform with a loyal customer base, and we believe it is set for meaningful and accelerated growth,” said A.J. Rohde, Senior Partner at Thoma Bravo.

“There is a strong market opportunity for TT to meet the growing demand for speed, reliability and next-generation innovation.”