Newry-based First Derivatives has completed its acquisition of the minority shareholdings in Kx Systems, taking the company’s total stake in the business to 100 per cent.

First Derivatives has now taken ownership of Kx Systems for $53.8 million (€48m) in cash. The deal marks an important milestone for the company, chief executive Brian Conlon said.

“Since we acquired a controlling stake in Kx Systems in October 2014 we have invested heavily to deliver the performance advantages of our combined solutions, branded as Kx technology, to a range of end-markets,” said Mr Conlon. “We are making exciting progress as we demonstrate our ability to transform our customers’ operational performance by unlocking the value in their data.”

First Derivatives was established in 1996 and provides trading and risk management software systems and consulting services to the capital markets industry.