International law firm Simmons & Simmons has advised the management of SteelEye, a leading trade and communications surveillance and data analytics platform, on its merger with FundApps, a provider of compliance monitoring and regulatory reporting solutions for the global financial services industry. Backed by FTV Capital, the merger brings together two of the RegTech sector’s most innovative providers to create a single, end-to-end compliance solution for clients across the buy-side and sell-side. See the press release here.
The combined organisation will deliver a unified platform that transforms how financial institutions approach compliance, integrating surveillance, monitoring, reporting, and analytics to provide complete visibility and control throughout the regulatory lifecycle. Together, FundApps and SteelEye will support over 350 clients, including banks, asset managers, hedge funds, and commodities firms across 18 countries, with a combined annual recurring revenue approaching £50 million and major offices in London, New York, Singapore, India, and Portugal.
The Simmons team advising SteelEye’s management on the merger was led by Corporate and M&A partner Sean Geraghty, working alongside client relationship partner Angus McLean and Geraint Steyn, Josephine Renfrey and Max Rayner in the corporate team.
The deal demonstrates Simmons & Simmons’ expertise in advising on complex, cross-border transactions in the financial technology sector.
Sean Geraghty commented: “We are proud to have advised on such a significant merger, which brings together two innovators to create a leading RegTech platform. It’s an exciting milestone for our clients and we look forward to seeing all they will achieve in the future.”
Matt Smith, SteelEye, co-founder and CEO commented: “It was a pleasure working with Sean, Angus, and the Simmons team; their strong technical skills combined with practical and experienced judgement really helped to get the deal done.”
