Cboe will no longer be an investor in Trading Technologies (TT) following parent company 7RIDGE’s partnership with Thoma Bravo.
In 2021, Cboe provided 40% of capital for the 7RIDGE fund owning TT.
READ MORE: TT sees continued support from SGX, CBOE after M&A option triggered
SGX, also an investor in the 7RIDGE fund, noted that the fund would be wound up following the transaction.
READ MORE: SGX sells stake in Trading Technologies
In its results call, Jill Griebenow, chief financial officer at Cboe, commented, “This week, TT announced an investment transaction that is expected to result in Cboe fully exiting its investment in the 7RIDGE fund that currently owns TT.”
“Cboe expects the transaction to result in the gain recorded against the 30 June, 2025 carrying value of its investment in the 7RIDGE fund. While I cannot provide any incremental details around the potential gain until the transaction is complete, I will note that consistent with our historical treatment of minority investment gains and losses, we anticipate adjusting out any future impact incurred with the exit of this investment from our non GAAP metrics.”
