Client need

BornTec, a Chicago-based financial technology solutions firm that provides infrastructure hosting, exchange access and network connectivity, was founded in 2003 by Buck and Derek Haworth. In 2010, the company started offering colocation services on a global basis, expanding into Germany and the United Kingdom, and in 2019, BornTec launched Cross Check software services and began focusing on the software side of the business. In 2022, BornTec made a strategic decision to focus on its software services, which required divestment of its managed colocation and exchange connectivity services business.

Baker Tilly Capital solution

Baker Tilly Capital ran a full sell-side process and worked with the firm’s founders to find the right partner to acquire the managed hosting and colocation business.

Results

Baker Tilly Capital’s sale process resulted in a transaction with Transaction Network Services (TNS), a strategic buyer focused on expanding its global connectivity footprint. The acquisition fit with TNS’ managed hosting strategy and freed BornTec to sharpen its focus on its industry-leading trading data analytics platform.