Exactpro Announces Management Buyout from London Stock Exchange Group

Exactpro Systems Limited and its subsidiaries ("Exactpro"), announce that EXPLORE123 Limited, a company incorporated by the founders of Exactpro, has completed the acquisition of Exactpro from the London Stock Exchange Group ("LSEG") on undisclosed terms.

Exactpro is a specialist firm currently employing over 560 staff focused on functional and non-functional testing and software development of systems that process wholesale financial products across many asset classes, such as trading and clearing systems, risk management, market surveillance, securities data distribution and post trade infrastructures. These services are offered to exchanges, investment banks, brokers, technology firms and other financial sector organisations worldwide.

LSEG will remain a significant customer of Exactpro that will continue providing independent software quality assessment of LSEG's core platforms pursuant to a multi-year services agreement between the two companies.

Alexey Zverev, co-CEO and co-founder of Exactpro, said: "Our work is deliberate practice of software testing. We build software to test software. We are pleased to work alongside our clients' technology teams on various challenging quality assurance assignments, where we utilize a set of bespoke tools for automated testing."

Iosif Itkin, co-CEO and co-founder of Exactpro, added: "Exactpro was originally launched on 9th September 2009 known around the world as software testers' day due to a moth found trapped in hardware and "debugged" seven decades ago. Since that time, advances in data analysis and artificial intelligence have been rapidly changing the world around us. The presence of thinking machines will soon affect all industries, processes and occupations. Machine learning is currently one of the main directions of research at Exactpro to enhance our testing capabilities for market infrastructures."