Latham & Watkins Advises TA Associates on £570 Million Take-Private Acquisition of FD Technologies.
Latham & Watkins LLP has advised TA Associates on its proposed acquisition of FD Technologies PLC, in a deal that values the UK-based data analytics group at approximately £570 million.
Under the terms of the agreement, funds advised by TA will acquire the entire issued and to-be-issued share capital of FD Technologies through a newly formed entity, Bidco.
The all-cash offer represents a 27% premium to FD’s share price of £19.28 as of May 6, 2025, and a 51% premium to the company’s twelve-month volume-weighted average price.
FD Technologies, which trades on the AIM market of the London Stock Exchange under the symbol FDP.L, is best known as the parent company of KX, a global leader in real-time analytics software.
The transaction is expected to strengthen KX’s position in the increasingly competitive AI and data infrastructure space.
“KX’s high performance data and analytics software supports fast-moving, data-intensive organizations and is foundational to the AI and analytics stacks of global enterprises.
TA’s strategic and operational expertise will support our mission to accelerate product innovation and deepen our impact across high-growth, high-value verticals.” said Ashok Reddy, CEO of KX.
Hythem El-Nazer, Co-Managing Partner at TA, added: “With decades of experience investing in and scaling leading enterprise software companies, TA has developed a deep understanding of what it takes to build enduring platforms. We’re excited to partner with Ashok and the KX team to accelerate their vision.”
Latham & Watkins’ cross-border team advising TA and Bidco includes:
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Corporate: Paul Dolman and Richard Butterwick (partners, London), with Edward Coates, Jacopo Eftekhar Zonouzi, Sam Cadd, and Manon Cote (associates)
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Finance: Hugh O’Sullivan (partner, London) and Jerome McCluskey (partner, New York), supported by associates Farisha Khan, Melissa Doura, Andrew O’Neill, and Xiaotian Xu
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Technology & Data: Christian McDermott (partner, London)
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Employment: Sarah Gadd (partner, London)
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Real Estate: Quentin Gwyer (partner, London)
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Tax: Helen Lethaby (partner, London) and counsel James Leslie
Jefferies International Limited is acting as financial adviser to TA and Bidco.
The deal remains subject to regulatory and shareholder approvals, with completion expected later this year.
TA Associates is a global private equity firm founded in 1968, specializing in growth investments in profitable companies. With over $65 billion raised and offices in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong, TA has invested in more than 560 companies across technology, healthcare, financial services, consumer, and business services. The firm partners with management teams to drive long-term, sustainable growth through majority and minority investments.
Latham & Watkins, founded in 1934, is a global law firm with more than 3,000 lawyers across major business and financial centers. The firm advises top companies, investors, and institutions on high-stakes transactions, regulatory matters, and litigation. Known for its collaborative culture and deep industry knowledge, Latham delivers practical, strategic legal solutions worldwide.
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