The European Energy Exchange has completed the 100% acquisition of Kent software company 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 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.
Dr Tobias Paulun, Chief Strategy Officer at EEX, commented: “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-focused solutions for our customers. I am delighted to welcome the whole KB Tech team to the EEX Group family”.
Existing clients’ interface and relationship with KB Tech remains unchanged. The company will continue to operate as an independent entity from its offices in Southborough near Tunbridge Wells.
David Briggs, Technical Director and co-founder at KB Tech, added: “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 realizing those ambitions together in the years to come”.
The European Energy Exchange develops, operates and connects secure, liquid and transparent markets for energy and related products.