ICAP Group Holdings has reached an agreement to acquire all the remaining 61.78% of the share capital of Stockholm-based TriOptima, for a payment of approximately EUR109m payable in cash together with a further amount of approximately EUR12m in respect of working capital.

The payment will be financed from ICAP’s existing debt facilities. Following the initial payment, there will be two further potential payments based on revenue and profit targets for the period to 31 December 2012. These further payments can be made in cash, ICAP shares or a combination of the two at ICAP’s discretion.

ICAP originally invested in TriOptima when the business was founded in 2001.

TriOptima now has 102 employees and gross assets of EUR36.5m. Following the acquisition, the senior management and founders of TriOptima, including Brian Meese, CEO, will remain with the business and continue it within the ICAP Group.

Brian Meese, CEO of TriOptima, said: “TriOptima and ICAP share a vision of providing comprehensive post-trade services to the OTC markets. By becoming part of ICAP, TriOptima will be able to more rapidly expand the range of post-trade and risk management services we provide. We anticipate significant growth opportunities from working closely with ICAP’s other post-trade and risk management businesses to provide a higher level of service to our combined customer base.”

The transaction is subject to regulatory approval in Sweden.

TriOptima is an international financial technology company, focused on reducing costs and eliminating risks for its customers. TriOptima offers a range of services including triReduce, the multilateral termination service for interest rate, credit and energy derivatives; the triResolve service for portfolio reconciliation and exception management of OTC derivative portfolios; and the OTC derivatives interest rate trade reporting repository.

ICAP Group Holdings is a wholly owned subsidiary of ICAP, an interdealer broker and supplier of post-trade services.