BSO, a growing global competitive business service provider, has acquired microwave operator Apsara Networks with an aim of gaining a greater foothold in the low latency networking financial market segment.
Financial terms of the deal were not disclosed.
Having already established a wide-reaching fiber network of its own, BSO will integrate Apsara’s wireless microwave technology into its fiber network.
The Apsara microwave network currently serves several key liquidity venues, including its New Jersey route spanning Nasdaq, NYSE and BATS.
“The acquisition of Apsara Networks enables us to offer unrivaled low-latency access, network resiliency and enhanced managed services to clients across established and emerging markets,” said Michael Ourabah, founder and CEO of BSO, in a release.
BSO has also tapped into funding from Boston-based private equity firm Abry, which has taken a minority investment in BSO. Abry will provide necessary capital not only to fund the Apsara acquisition, but also to facilitate further investment to enhance customer service and support systems.
The service provider was advised on the acquisition by Alexis Kalmanovitz at Zelig Associates and Matthieu Grollemund at Baker McKenzie. Abry was advised by Joshua Kogan at Kirkland & Ellis, and Apsara Networks was advised by Kimberly Taylor at Morgan Lewis & Bockius.
BSO is hardly alone in beefing up its network with complementary microwave networking assets to compete in the financial trading markets. GTT purchased Perseus, a microwave-based network used by financial trading companies, for $37.5 million.