The European Energy Exchange (EEX) has successfully completed the 100% acquisition of UK based software company, KB Tech Ltd (KB Tech). Having completed all necessary closing conditions on Friday 3rd April, EEX now holds 100% of the shares of the company with immediate effect.
Co-Founded in 2005 by David Briggs and Paul Kemp, KB Tech specializes in providing data management services and products to the trading, pension and financial markets. The Company’s propriety software delivers a range of modular, connected services providing functions for managing real-time data within and around the trading, price delivery and transactional environments.
Speaking on the acquisition, Dr Tobias Paulun, Chief Strategy Officer at EEX comments: “KB Tech and EEX Group have been working together in close partnership for almost a decade. In that time, they have made a significant contribution to our IT set up which has driven our business forward. Notable examples of their expertise include the setting up of the order book and matching engine for EEX Asia as well as the more recently created pre-trade transparency platform for EEX. Above all, as companies, we share the same values and ideology of delivering quality, business focussed solutions for our customers. I am delighted to welcome the whole KB Tech team to the EEX Group family”.
From an ongoing operational perspective, EEX’s acquisition of KB Tech will be a seamless process for all KB Tech’s clients whose interface and relationship with the company remains unchanged. The company will continue to operate as an independent entity from its current offices in Southborough, Kent UK. In addition to their work in exchange related financial markets, KB Tech will also remain fully committed to the other areas of its business including pensions analysis, membership systems and farming services.
Furthermore, all directors and senior management of KB Tech will continue in their current roles and are fully committed to their long-term involvement with the company and its further success as part of EEX Group.
David Briggs, Technical Director and KB Tech’s co-founder adds: “We see joining the family of EEX Group as representing an exciting new and positive chapter for KB Tech with significant benefits for our clients (both current and future), staff and business partners. As a supplier of a number of exchange related trading services to EEX for some years, both parties have had the opportunity of working closely together and share the same ambitions for our business. I look forward to realizing those ambitions together in the years to come”.
The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services for White Certificates, Capacity Certificates and Guarantees of Origin on behalf of the French State, as well as Auctions for Guarantees of Origin.
KB Tech is a UK based software development company providing data management services and products to the trading, pension and financial markets. The Company’s propriety software delivers a range of modular, connected services providing functions for managing real-time data within and around the trading, price delivery and transactional environments. Client usage examples include: Trading Platform & Integration, Clearing Gateways, Portal for Trade Registration, Portal for Real-time Price Discovery and Analysis, Regulatory Reporting and Market Data Distribution, Market Maker and other Price Injector Services. For more information visit www.kbtech.co.uk or contact firstname.lastname@example.org
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