Thoma Bravo has agreed to acquire a stake in Trading Technologies, a leading provider of SaaS platforms for derivatives trading, in a deal valued at more than $1bn, according to sources cited by Bloomberg.

The transaction, which is expected to close in the fourth quarter of 2025, is subject to regulatory approval. Existing backer 7RIDGE, which acquired the company in 2021, will retain a minority position. The earlier transaction was supported by limited partners including Cboe and Singapore Exchange.

Based in Chicago, Trading Technologies provides trading infrastructure and analytics software to global futures commission merchants, brokers, and buy-side institutions. Its platform has undergone a significant transformation under 7RIDGE’s ownership, positioning it for continued growth.

“TT has rapidly evolved into a modern, industry-leading platform with a loyal customer base, and we believe it is set for meaningful and accelerated growth,” said A.J. Rohde, Senior Partner at Thoma Bravo. “There is a strong market opportunity for TT to meet the growing demand for speed, reliability and next-generation innovation.”

Current CEO Justin Llewellyn-Jones, who assumed the role earlier this year, will continue to lead the company through its next growth phase. “With the backing of these two great partners, TT is in its strongest position to date to become the operating system for the capital markets,” he said.

While the company does not publicly disclose financials, former CEO Keith Todd noted in 2024 that revenues had grown from $98m in 2021 to approximately $170m. Growjo now estimates 2025 revenue to reach around $224m.

The investment marks a continuation of Thoma Bravo’s strategy of targeting high-growth, mission-critical SaaS platforms across financial infrastructure and enterprise software.

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