Bob Gasser, Chief Executive Officer & President, ITG
"This acquisition enhances our existing patent portfolio and further protects our competitive position."
New York - ITG the independent execution and research broker, has announced the acquisition of 21 U.S. patents and corresponding foreign patents and patent applications from Aritas Group, Inc., formerly known as Pipeline Trading Systems.
This deal does not include any of the software, non-patent assets or personnel of Aritas Group or any of its affiliated businesses. Terms of the deal, which closed on May 30th, were not disclosed.
The Aritas patents address a broad array of services and products, including block trading, crossing networks, front-end trading systems, and more. The acquisition aims to complement ITG's portfolio, bringing its total to 48 U.S. patents, with numerous applications pending.
"This acquisition enhances our existing patent portfolio and further protects our competitive position," said ITG's CEO and President, Bob Gasser. "ITG's broad base of intellectual capital, including our patents, underscores our leadership role in the continued evolution of electronic trading."