M&A Deal Summary

State Street Acquires Currenex

On March 2, 2007, State Street acquired financial services company Currenex from TH Lee Putnam Ventures for 564M USD

Acquisition Highlights
  • This is State Street’s 3rd transaction in the Financial Services sector.
  • This is State Street’s 5th largest (disclosed) transaction.
  • This is State Street’s 3rd transaction in the United States.
  • This is State Street’s 2nd transaction in New York.

M&A Deal Summary
Date 2007-03-02
Target Currenex
Sector Financial Services
Buyer(s) State Street
Sellers(s) TH Lee Putnam Ventures
Deal Type Add-on Acquisition
Deal Value 564M USD

Target

Currenex

New York City, New York, United States
website
Currenex®, Inc. (www.currenex.com) is the market and technology leading online global currency trading platform that links buyers and sellers worldwide and is open to all money market and FX market participants. Currenex provides instant access to the global foreign exchange and money market asset classes via five price discovery mechanisms across all currencies. Currenex delivers secure, reliable and comprehensive FX and loans and deposits trading from trade initiation, pricing and execution to confirmation, settlement and reporting

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Buyer(S) 1

Buyer

State Street

Boston, Massachusetts, United States

website

Category Company
Founded 1792
Sector Financial Services
Employees39,439
Revenue 12.1B USD (2022)
DESCRIPTION

State Street is a specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. State Street was founded in 1792 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 3 of 11
Sector (Financial Services) 3 of 8
Type (Add-on Acquisition) 2 of 7
State (New York) 2 of 3
Country (United States) 3 of 9
Year (2007) 2 of 2
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 International Fund Services

New York, New York, United States

International Fund Services (IFS) is a division of State Street Alternative Investment Solutions which provides a complete suite of fund accounting, fund administration and risk services to hedge funds and private equity funds. The breadth and scope of our offerings allows State Street to develop individual solutions that can meet virtually any level of asset servicing requirements for clients with a range of size and complexity.

Buy $4.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-05 CitiStreet

North Quincy, Massachusetts, United States

CitiStreet LLC is a US-based retirement plan and benefit service and administration company, with additional operations in Australia for more than 16,000 plans and 12 million participants.

Sell $900M

Seller(S) 1

SELLER

TH Lee Putnam Ventures

New York, New York, United States

website

Category Growth Capital Firm
Founded 1999
PE ASSETS 1.1B USD
Size Large
Type Sector Focused
DESCRIPTION

TH Lee Putnam Ventures (THLPV) is a technology-focused private equity firm affiliated with Thomas H. Lee Partners and Putnam Investments. THLPV's primary focus is on later-stage venture investments, but the firm will also consider public entities, middle market buyouts, recapitalizations and spinouts of corporate divisions. A typical investment is between $20 and $50 million. TH Lee Putnam Ventures was formed in 1999 and is based in New York City.

DEAL STATS #
Overall 5 of 9
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 2 of 6
State (New York) 2 of 2
Country (United States) 4 of 8
Year (2007) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-13 ResMAE Fiancial

Pasadena, California, United States

ResMAE Financial Corporation provides technoogy enabled originator and services subprime mortgages.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 Click Tactics

Duluth, Georgia, United States

Click Tactics, Inc. provides marketing programs with communications when, where and how your customers want them. Click Tactics streamlines complex processes enabling you to create perfectly timed and personalized communications within and across channels. The results are 3X to 10X better than traditional methods.

Sell -
Mergr

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