The Options Technology acquisition of Crossvale signals a significant shift in the fintech ecosystem as financial institutions rethink public cloud strategies and accelerate private cloud and AI adoption.
Options Technology, a provider of institutional grade infrastructure, normalised market data and managed services for global financial markets, has entered into an agreement to acquire Crossvale, a US and EU based specialist in application and platform modernization. The Options Technology acquisition of Crossvale is aimed at helping financial services firms modernize legacy systems, reduce technology debt and advance private cloud and artificial intelligence initiatives within a secure and compliant operating model tailored for regulated markets.
The proposed deal comes amid growing momentum around public cloud repatriation programs, as financial institutions seek greater cost predictability, operational control and regulatory assurance. By combining Options’ secure private cloud infrastructure with Crossvale’s modernization expertise, clients will be able to update applications and migrate workloads while retaining control over data, risk and compliance requirements.
Crossvale brings expertise in containerization, application modernization and database migration, working closely with technology partners including Red Hat and VMware. Integrated with Options’ global private cloud platform and established footprint across financial markets, the acquisition creates an end to end modernization offering for institutions seeking to enhance performance and maintain data sovereignty.
The timing also aligns with Options’ recent launch of PrivateMind, its data sovereign AI platform built for financial services use cases. Together, the combined capabilities will enable firms to modernize applications, migrate critical data and deploy AI workloads on a secure private cloud foundation. This approach addresses increasing demand for compliant alternatives to public cloud environments.
“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.”
Tomer Yoser Of, Partner at Vitruvian Partners, which acquired a majority stake 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.”
Subject to customary closing conditions and regulatory approvals, the transaction continues Options’ expansion strategy following acquisitions of Fixnetix, Activ Financial and Packets2Disk. As modernization, AI deployment and regulatory resilience rise on boardroom agendas, the Options Technology acquisition of Crossvale positions the company as a comprehensive private cloud and digital transformation partner for global capital markets firms.
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