Global telecommunications provider Perseus Telecom has acquired – for an undisclosed amount- ETradeLab, a Brazilian financial technology company. Based in São Paulo, ETradeLab focuses on hosting, managed connectivity, order routing and trade management support.
In an official press release, the two companies have announced that they will tightly integrate and combine ETradeLab’s hosting solutions with Perseus’ ultra-low latency networks. Focus will be placed on Brazil, Peru, Chile, Panama and Colombia and providing cost-effective and efficient solutions for banks, hedge funds and proprietary firms in those locales.
Combining International Prowess and Local Knowledge
With the acquisition, Marcos Guimaraes, founder of ETradeLab, will now act as President of Perseus Telecom, Brazil. He commented, “The LATAM region’s continuing market growth requires such building blocks for optimum time-to-market and even faster development; Perseus has the DNA to deliver them allied to ETradeLab’s local market knowledge.”
Dr. Jock Percy, Chief Executive of Perseus Telecom commente their expectations in the region, “Our purchase of ETradeLab shines light on the accelerating market growth in Brazil, Peru, Chile, Panama and Colombia where capital markets require ultra-fast, reliable connections to mitigate risk and to provide worldwide reach.”
As the global demand for efficient trading systems with low-latency connectivity and local support models in the financial market grows, Perseus will continue to evolve and innovate accordingly.