The European Energy Exchange (EEX) has successfully completed the 100 per cent acquisition of UK based software company, KB Tech Ltd (KB Tech). Co-Founded in 2005 by David Briggs and Paul Kemp, KB Tech specialises in providing data management services and products to the trading, pension and financial markets. The Company’s propriety software delivers a range of modular, connected services providing functions for managing real-time data within and around the trading, price delivery and transactional environments.
Speaking on the acquisition, Dr Tobias Paulun, Chief Strategy Officer at EEX, says: “KB Tech and EEX Group have been working together in close partnership for almost a decade. In that time, they have made a significant contribution to our IT set up which has driven our business forward. Notable examples of their expertise include the setting up of the order book and matching engine for EEX Asia as well as the more recently created pre-trade transparency platform for EEX. Above all, as companies, we share the same values and ideology of delivering quality, business focussed solutions for our customers. I am delighted to welcome the whole KB Tech team to the EEX Group family.”
From an ongoing operational perspective, EEX’s acquisition of KB Tech will be a seamless process for all KB Tech’s clients whose interface and relationship with the company remains unchanged. The company will continue to operate as an independent entity from its current offices in Southborough, Kent UK. In addition to their work in exchange related financial markets, KB Tech will also remain fully committed to the other areas of its business including pensions analysis, membership systems and farming services.
Furthermore, all directors and senior management of KB Tech will continue in their current roles and are fully committed to their long-term involvement with the company and its further success as part of EEX Group.
David Briggs, Technical Director and KB Tech’s co-founder, adds: “We see joining the family of EEX Group as representing an exciting new and positive chapter for KB Tech with significant benefits for our clients (both current and future), staff and business partners. As a supplier of a number of exchange related trading services to EEX for some years, both parties have had the opportunity of working closely together and share the same ambitions for our business. I look forward to realising those ambitions together in the years to come.”
