Options Technology, a leading provider of institutional-grade infrastructure, normalised market data and managed services for global financial markets, has announced it has entered into an agreement to acquire Crossvale, a US and EU-based specialist in application and platform modernisation, as the firm expands its capabilities for financial services clients upgrading legacy infrastructure.
Options said the deal will strengthen its ability to help institutions modernise older technology stacks, reduce technical debt, and accelerate adoption of private cloud and AI within a secure and compliant framework tailored for regulated markets.
The company also pointed to a broader industry trend of firms reassessing public cloud strategies, including cloud “repatriation” programmes aimed at improving cost predictability, operational control, and regulatory comfort.
Crossvale brings experience in containerisation, application modernisation, and database migration, and works with technology partners including Red Hat and VMware.
Options said combining Crossvale’s expertise with its global private cloud platform creates a more end-to-end offering for firms seeking to modernise while maintaining performance, data sovereignty, and risk controls.
“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 transaction remains subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed to the public.
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