(Bloomberg) -- Private equity firm Hg is weighing a sale of French software firm smartTrade Technologies, according to people with knowledge of the matter.
Hg is working with advisers to prepare the company for an auction process next year, the people said, asking not to identified as the information isn’t public. SmartTrade could be valued at about €1 billion ($1.1 billion) in any deal, the people said.
Hg first invested in smartTrade in 2020 when it bought stakes from Keensight Capital and Pléiade Venture. It may still retain a minority stake in the business after the potential transaction, the people said.
Considerations are preliminary and Hg could still decide against a deal, the people said. A representative for Hg declined to comment.
Based in Aix-en-Provence, smartTrade provides electronic trading and payment platforms to financial clients including banks, brokers and asset managers, according to its website. Its trading suite hosts foreign exchange, fixed income, equities, derivatives as well as cryptocurrencies.
In November 2021, smartTrade acquired Canadian firm TickTrade Systems to boost its presence across North America, Europe and Asia. SmartTrade has subsidiaries in locations including London, New York, Singapore and Tokyo.
--With assistance from Swetha Gopinath.
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