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Allen & Overy advises Broadway Technology on its sale to Bloomberg L.P.

Allen & Overy (“A&O”) has advised Broadway Technology, a provider of low-latency execution management solutions, in its sale to Bloomberg L.P.

The transaction brings together two highly complementary businesses, Bloomberg's Electronic Trade Order Management Solutions (ETOMS) and Broadway's low-latency execution management solution, and will help further the development of a low-latency order and execution management solution for the credit and rates markets. 

Electronic trading in fixed income continues to mature and as workflows become more digitized, market participants are looking for scalable solutions that enable them to remain competitive. Together, Bloomberg and Broadway's solutions will offer clients innovative multi-asset low latency technologies in an increasingly competitive area. Clients of Bloomberg and Broadway's technology solutions will continue to experience the same high levels of service and support.

The transaction was led by M&A partner Dario de Martino and senior associate Stephanie Ference and was assisted by associates Mara Goodman and Yuwei Liu. Partners Philip Mansfield and Imogen Carr assisted on UK antitrust matters, and partner Noah Brumfield, senior associate Puja Patel and associate Regina Loureiro advised on U.S. antitrust matters. Partner Brian Jebb, associates Hayde Faria and Alexandra Sentner advised on employment matters. Partner Keren Livneh and associates Kyle Coogan and Chynna Foucek advised on IP matters. Partners Dave Lewis and Caroline Lapidus and associate Zahra Keshwani assisted on tax matters.