Latham and A&O lead on latest US private equity swoop on UK tech

Latham & Watkins and A&O Shearman are advising on the £570 million take-private of UK-listed tech and analytics firm FD Technologies, marking the latest big-ticket deal in a wave of private equity interest in UK assets.

Boston-based buyout firm TA Associates is behind the bid, which was agreed on Thursday (8 May) and has been recommended to shareholders.

The transaction will see AIM-listed FD Technologies, one of Northern Ireland’s leading tech companies and the parent of analytics platform KX, delist from the London Stock Exchange.

FD Technologies operates in 12 countries across Europe, North America and APAC, with more than 580 employees globally.

KX is its flagship product, serving customers in capital markets, aerospace, defence and life sciences, offering advanced analytics and real-time data solutions.

Advising

Latham is advising long-time client TA Associates, with a cross-practice team led by London corporate partners Paul Dolman and Richard Butterwick.

The firm is also currently advising DoorDash on its £2.9 billion acquisition of Deliveroo, making this its second major UK take-private in a single week.

A&O Shearman is advising FD Technologies, continuing a longstanding client relationship that included the company’s £230 million sale of its First Derivatives division to EPAM Systems in late 2024.

The firm’s team is led by M&A partners Matt Hamilton-Foyn and Seth Jones. Hamilton-Foyn said:

"This transaction speaks to the success of FD’s management team in positioning KX as a highly differentiated offering in the data and analytics software market. We are very proud to be supporting them."