Options Technology has agreed to acquire Crossvale in a move aimed at accelerating private cloud adoption and application modernisation across the financial services sector.
The deal, which remains subject to regulatory approval, will expand Options’ ability to help banks and trading firms reduce technology debt and update legacy systems, particularly as the industry reassesses the cost and control implications of public cloud use.
Both companies stated that the combination will offer a secure and compliant route for firms looking to modernise infrastructure without sacrificing data sovereignty or operational resilience.
Crossvale specialises in containerisation, application modernisation and database migration, working closely with partners such as Red Hat and VMware. Options said integrating these capabilities with its private cloud platform would create an end-to-end modernisation offering tailored for regulated markets.
The move comes shortly after Options launched PrivateMind, an AI platform designed for data-sovereign financial services use cases. The company believes the acquisition will help clients migrate and run AI workloads within a controlled environment.
Danny Moore, Options’ chief executive, commented that the acquisition arrives “at exactly the right moment,” pointing to rising regulatory obligations and firms’ growing interest in cloud repatriation. Crossvale’s chief executive, Todd Millard, said demand for modernisation is “rapidly accelerating” as organisations shift critical workloads.
Vitruvian Partners, a majority shareholder in Options, feels the deal aligns with the company’s long-term strategy to expand its capabilities across global financial markets. Terms of the transaction were not disclosed.
