Fintech firm 280 CapMarkets and Incapital, an underwriter and distributor of fixed income and market-linked securities, are merging to create the fintech firm InspereX, the companies said Thursday.
The new company aims to improve fixed income distribution and trading for all market participants, they said in a joint announcement.
The transaction is expected to close by the end of the first quarter this year, with the merger of the firms’ broker-dealer businesses to occur after that, subject to customary regulatory approval, they said.
Financial terms were not disclosed and the companies did not say which firm was acquiring and which was being acquired. Incapital and 280 CapMarkets did not immediately respond to a request for comment.
Incapital, based in Chicago and Boca Raton, Florida, was founded by Tom Ricketts in 1999. San Francisco-based 280 CapMarkets was co-founded by technologists and bond veterans including Gurinder Ahluwalia and David Rudd in 2016.