ETradeLab provides services including hosting, managed connectivity, order routing and trade monitoring support.
Through the acquisition, Perseus hopes to add significant value to its services by tightly integrating its low latency networks with ETradeLab’s hosting solutions. Perseus said this will enable it to provide “cost effective, efficient and valuable network solutions” for its customers.
“Our purchase of ETradeLab shines light on the accelerating market growth in Brazil, Peru, Chile, Panama and Colombia where capital markets require ultra-fast, reliable connections to mitigate risk and to provide worldwide reach," said Jock Percy, CEO of Perseus Telecom. "Incorporating ETradeLab into our brand was an easy decision given its expertise in the market and trade monitoring services."
The acquisition comes at a time of global demand for efficient trading systems with low-latency connectivity and local support models suited for banks, hedge funds and proprietary firms, according to Perseus.
To support the intregation of the two businesses, Marcos Guimaraes, founder of ETradeLab, has become president of Perseus Telecom, Brazil, effective immediately.
"It is a thrill to be part of Perseus Telecom's top-tier management team. Perseus brings innovation and high performance networks at fair prices due to its strong portfolio that allow customers to increase revenues while reducing operating costs," said Guimaraes.
"The Latam region's continuing market growth requires such building blocks for optimum time-to-market and even faster development; Perseus has the DNA to deliver them allied to ETradeLab's local market knowledge. I'm ready for the challenge and can't wait to start working with our customers."
