Options Technology Announces Agreement to Acquire Crossvale, Accelerating Private Cloud and AI Adoption for Financial Services

Options Technology (Options), the leading provider of institutional-grade infrastructure, normalised market data and managed services for global financial markets, announced that it has entered into an agreement to acquire the Crossvale business, a US and EU-based leader in application and platform modernization.

The proposed acquisition significantly strengthens Options’ ability to help financial services institutions modernize legacy environments, reduce technology debt, and accelerate adoption of private cloud and AI, all within a secure, compliant operating model purpose-built for regulated markets.

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The acquisition also reflects strong market tailwinds, including a growing wave of public cloud repatriation programs across the sector, as firms seek greater cost predictability, operational control, and regulatory assurance. By combining Options’ secure private cloud with Crossvale’s modernization expertise, clients can modernize at pace while maintaining full control over data, workloads, and risk.

Crossvale brings deep expertise in containerization, application modernization, and database migration, working closely with an extensive ecosystem of technology partners, including Red Hat and VMware. Combined with Options’ global private cloud platform and long-standing presence across financial markets, the acquisition creates a compelling end-to-end proposition for firms seeking to modernise without compromising performance, data sovereignty, or regulatory control.

The timing of the transaction closely aligns with Options’ recent launch of PrivateMind, its data sovereign AI platform designed specifically for financial services use cases. Together, the combined capabilities enable clients to modernise applications, migrate data, and deploy AI workloads on a secure private cloud foundation, addressing growing demand for compliant alternatives to public cloud.

“This acquisition accelerates our growth strategy at exactly the right moment for the industry,” said Danny Moore, President and CEO of Options Technology. “Financial institutions are under increasing pressure to address spiraling 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 modernization, AI, and private cloud as a single, integrated solution.”

“We’re seeing rapidly accelerating demand for application and platform modernization, particularly as organizations look to migrate and modernize critical workloads at scale,” said Todd Millard, CEO of Crossvale. “By combining our deep modernization 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 combined company will offer a differentiated value proposition to the financial services sector: an institutional-grade platform that integrates global infrastructure, comprehensive container and application modernisation, database migration, and data sovereign AI capabilities, all delivered with financial services compliance and security built in from day one.

Tomer Yoser-Of, Partner at Vitruvian Partners, who acquired a majority shareholder in Options in 2024, added, “This acquisition is a clear example of how Options is executing on its long-term growth strategy by adding capabilities which are highly relevant to its clients. The combination of institutional-grade private cloud infrastructure with deep application and platform modernization expertise creates a highly differentiated platform for financial services ecosystem. As market demand accelerates around modernization, AI adoption, and regulatory resilience, this investment positions Options to scale faster while staying true to its core focus on performance, security, and compliance.”

Security remains a core pillar of the combined offering. Together, Options and Crossvale will deliver a tightly integrated security wrapper spanning infrastructure, platform, and application layers, helping clients meet stringent operational resilience and compliance requirements without slowing innovation.

The transaction is subject to customary closing conditions and regulatory approvals. Terms were not disclosed.

The agreement follows a series of strategic acquisitions by Options in recent years including its acquisition of Fixnetix, Activ Financial and most recently Packets2Disk each designed to deepen core capabilities and support sustained global growth across capital markets technology services.

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