Broadway Technology acquires Irish FX trading and risk management fintech
Irish fintech Barracuda FX has been acquired by Broadway Technology, a provider of fintech solutions to organisations.
Barracuda provides order management solutions, developing functional capabilities, technology platforms and service infrastructure for the modern foreign exchange market. It currently has 40 staff and was founded in 2009.
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Speaking to the Irish Times, co-founder and CEO Kieran Fitzpatrick said: “We currently sell technology to 20 of the top 50 banks in the world and joining with Broadway strengthens that profile further. Part of the attraction of the deal was that there are a lot of synergies between the two companies in terms of product offering and also cultural fit.”
It was stressed that Barracuda FX will still run on a standalone basis following the acquisition, but both Fitzpatrick and fellow founder and COO Maurice Curran will join Broadway’s growing FX business at a senior level.
Tyler Moeller, CEO of Broadway, commented: “We’re thrilled for Kieran and Maurice to bring their years of FX experience and customer-centric focus to Broadway and assume responsibility for running our newly combined FX business.”