Options Technology, the global provider of institutional-grade infrastructure and managed services for financial markets, has entered into an agreement to acquire Crossvale, a US and EU-based application and platform modernisation specialist. The transaction strengthens Options' ability to help financial institutions modernise legacy environments whilst accelerating private cloud and AI adoption within secure, compliant operating models.

Business Wire reported that the acquisition addresses growing public cloud repatriation programmes across the sector, as firms seek greater cost predictability, operational control, and regulatory assurance.

Crossvale brings expertise in containerisation, application modernisation, and database migration, working with technology partners including Red Hat and VMware. Combined with Options' global private cloud platform, the acquisition creates an end-to-end proposition for firms seeking to modernise without compromising performance, data sovereignty, or regulatory control.

The transaction aligns with Options' recent launch of PrivateMind, its data sovereign AI platform designed for financial services use cases. The combined capabilities enable clients to modernise applications, migrate data, and deploy AI workloads on secure private cloud infrastructure.

Danny Moore, president and chief executive of Options Technology, said: "Financial institutions are under increasing pressure to address spiraling technical debt, meet evolving regulatory obligations such as DORA, and reassess public cloud strategies. By bringing Crossvale into the Options platform, we are uniquely positioned to deliver modernization, AI, and private cloud as a single, integrated solution."

Todd Millard, chief executive of Crossvale, said: "By combining our deep modernization expertise with Options' global infrastructure platform and strong financial services relationships, we can address this demand in a way that neither company could achieve independently."

Options operates offices globally including Belfast, New York, London, Paris, and Tokyo. The transaction is subject to customary closing conditions and regulatory approvals.

View how Options Technology's acquisition strategy is positioning the firm for growth in financial services cloud infrastructure.