BGC Group, Inc. (NASDAQ:BGC) today announced that it has entered into a definitive agreement to sell the business of kACE Financial, a provider of real-time pricing and advanced analytics platforms for complex FX derivatives, to smartTrade Technologies SAS.

Under the terms of the deal, kACE is valued up to $119 million, subject to limited post-closing adjustments. This includes an initial payment of $80 million, with up to an additional $39 million in contingent cash consideration based on defined performance metrics some of which is expected to be received in 2026.

“We are proud of the FX options pricing and analytics franchise the kACE team has developed within BGC,” said Sean Windeatt, Co-CEO of BGC Group. “This transaction delivers significant value for our shareholders and positions kACE to enter an exciting new chapter as part of smartTrade. We will continue to focus on expanding our high-margin, technology-driven Fenics platforms to deliver innovative solutions across multiple asset classes.”

David Vincent, CEO & Co-Founder at smartTrade, said: “This is a transformational moment for our joint clients. kACE brings a world-class team and sophisticated FX derivatives technology that is highly complementary to our existing multi-asset trading and payments offering. By integrating kACE’s deep derivatives expertise and cutting-edge analytics, we can now deliver even greater value to clients through a truly end-to-end solution that offers a clear competitive advantage.”

The transaction is expected to close by end of year 2025, subject to customary closing conditions.