Options Technology, a provider of IT infrastructure and managed services based in London, has agreed to purchase Crossvale. The acquisition is intended to support financial institutions with the adoption of private cloud and artificial intelligence. The move is also expected to help customers update legacy environments and reduce technology debt.
The integration of the secure private cloud services from the London firm and the modernisation skills of the acquired company is designed to help clients update older systems. This process aims to keep sensitive workloads within controlled environments. The acquired business provides services in containerisation, application modernisation and database migration.
Based in the United States, Crossvale also maintains offices in Belfast and Spain while working with vendors including Red Hat and VMware.
Danny Moore, president and CEO of Options, commented: “This acquisition accelerates our growth strategy at exactly the right moment for the industry. Financial institutions are under increasing pressure to address spiralling technical debt, meet evolving regulatory obligations such as DORA and reassess public cloud strategies. By bringing Crossvale into the Options platform, we are uniquely positioned to deliver modernisation, AI and private cloud as a single, integrated solution.”
Todd Millard, CEO of Crossvale, added: “By combining our deep modernisation expertise with Options’ global infrastructure platform and strong financial services relationships, we can address this demand in a way that neither company could achieve independently. The financial terms of the agreement were not disclosed, and the transaction remains subject to customary closing conditions and regulatory approvals.”
The purchase follows an increased presence in the United States by the London firm over the past year. In July, the business expanded into the NY3 data centre in New Jersey to provide hosting and connectivity to financial firms. Earlier in March, the company opened a new office in Chicago. This transaction represents the third instance this year of a UK partner investing in a North American firm.
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