Deal: Biztech Lawyers, a specialist in Australian-US tech firms, is pleased to welcome the acquisition of independent tech platform Cannon Trading by industry peer Openmarkets Group (OMG).

Value: N/A.

Area: Tech; M&A.

Key players: Managing director (APAC) Anthony Bekker and special counsel Yehuda Orelowitz represented Cannon’s major shareholders.  

Deal significance: Cannon is a market leader in API development and support for the Australian equities market, while OMG is a trading and wealth management fintech, providing a full suite of technologies and market infrastructure to fintech’s and AFSLs; the group includes Openmarkets, which is one of Australia’s largest retail brokers.

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The deal represents a consolidation of a longstanding joint venture between the two and will see OMG further integrate Cannon’s API offerings into its platform.

Mr Bekker commented: “We were thrilled to work with [Cannon directors] Aurelian [Garreau] and Phil [Tauberman] who are true leaders in their field to achieve an excellent transaction outcome which advances the interests of both Cannon and OMG shareholders who now move forward together as one.”