Layton-based TradeWarrior Software has been sold to Oranj, a wealth management software company based in Chicago. TradeWarrior is a developer and marketer of institutional-grade investment rebalancing and model management software for financial advisers. According to a release from Oranj, the merger will provide independent registered investment advisers, broker-dealers and enterprises with state-of-the-art rebalancing functionality on the Oranj digital advice platform.
Financial terms of the transaction were not disclosed.
TradeWarrior was founded in 2008 and employs about 30 at its Layton facility. The merger with Oranj allow the company to add employees, a statement from TradeWarrior said.
“TradeWarrior and Oranj were both started by former advisors who wanted to provide members of the industry with powerful, intuitive and user-friendly technology solutions to improve their ability to service clients and optimize their businesses,” said Damon Deru, founder and president of TradeWarrior. “We look forward to working with Oranj to bring our tax-efficient rebalancing software to a broader community of independent advisers.”
“We continue to enhance our digital advice platform with additional functionality for advisers to deliver a customized wealth management experience, which helps them better serve clients and forge stronger connections with prospects,” said David Lyon, CEO and founder of Oranj. “This acquisition enables us to offer advisers the unique combination of Oranj’s user-friendly and modern front-office capabilities that enhance client interaction, and TradeWarrior’s sophisticated back-office support that streamlines the implementation of investing strategies.”
Deru will continue to lead the TradeWarrior business as president while Lyon will continue as CEO of Oranj and take on the CEO role for TradeWarrior.