The global investment firm, the Gores Group together with France Telecom-Orange, the worldwide telecommunications service provider, had announced the acquisition of Etrali Orange Business Services - Trading Solutions. Etrali is a subsidiary of the telecommunicatons firm and would be rebranded as Etrali Trading Solutions due to the buyout.
Etrali Trading Solutions would retain its headquarters in France and would continue in providing voice and electronic trading platforms and services for the trading market. The firm also owns and operates a voice and data network specifically dedicated to the trading industry.
According to Jon Gimbel, Principal of the Gores Group, "The Gores Group is very excited to be the new majority shareholder of Etrali Trading Solutions, alongside a talented management team. The Company has a rich history of creating innovative technology with a strong focus on customer service and we are confident that Etrali Trading Solutions will continue to capitalise on the growing voice and electronic related opportunities that exist with its customers. We look forward to partnering with Lionel Grosclaude and his team to help position the business as a standalone entity and accelerate its growth, both organically and through acquisitions."
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