Edison Partners, a growth equity investment firm based in Princeton, announced Monday the sale of a Chicago-based portfolio company to a New York-based data technology firm.
Edison Partners said OptionsCity Software, which provides stock market technology services, was sold for an undisclosed amount to Vela Trading Technologies LLC, which also provides various trading and market data technology.
“OptionsCity has consistently met traders’ need for a multiasset trading platform where they can instantly deploy new strategies,” Chris Sugden, Edison Partners’ managing partner and an OptionsCity board member, said in a prepared statement. “With continued innovation, the company has scaled to win greater global market share. We are excited for (co-founder and CEO) Hazem (Dawani) and the OptionsCity team on their success as it begins this next phase of growth with Vela.”
OptionsCity launched its product in 2008 and received its first growth equity investment from Edison Partners in 2013.