5 August 2022
FD Technologies plc
("FD Technologies" or the "Group")
Appointment of Ashok Reddy as CEO of KX
FD Technologies (AIM: FDP.L, Euronext Growth: FDP.I) announces the appointment of Ashok Reddy as Chief Executive Officer of KX, reporting directly to Group CEO Seamus Keating.
With an established track record of building and growing global technology businesses, Reddy joins KX at an optimal moment, with growth in annual recurring revenue accelerating and the signing of a landmark strategic partnership agreement with Microsoft earlier this year positioning KX for further growth.
"The market opportunity for KX is considerable," said Reddy. "Real-time analytics is one of the most exciting spaces in technology today, and the opportunity for KX is evidenced by the growing number of new customer agreements in industries outside our core financial services base. I'm looking forward to leading the business, using my experience in developing and implementing strategies that deliver rapid growth to create value for stakeholders."
Reddy has more than 20 years of experience leading teams and driving revenue for Fortune 500 companies. He spent ten years at IBM where he led the end-to-end delivery of enterprise products and platforms for a diverse portfolio of global customers. During his tenure, he more than doubled revenue and created a DevOps category that exceeded $350m in new revenue.
At CA Technologies, Reddy delivered growth in revenue and profitability, focused on the world's largest financial services customers and cloud-based DevOps and AIOps product lines. A similar role at semiconductor firm Broadcom saw Reddy establish the company's first enterprise software division and the formulation and implementation of a new business model that drove growth and more than tripled net margins in less than a year. Most recently, Ashok was the CEO of Digital.AI, driving rapid revenue growth and establishing it as the leader in AI-driven DevOps value stream management.
Commenting on the appointment, FD Technologies CEO Seamus Keating said: "We're delighted to have Ashok join as CEO of KX. His track record of success in enterprise software, driving product and commercial strategies is a perfect fit as we look to accelerate our growth following a transformational year for the business."
Enquiries
For further information please contact:
| FD Technologies plc Seamus Keating, Chief Executive Officer Ryan Preston, Chief Financial Officer Ian Mitchell, Head of Investor Relations | +44(0)28 3025 2242 |
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| Investec Bank plc (Nominated Adviser and Broker) Andrew Pinder Carlton Nelson Virginia Bull | +44 (0) 20 7597 5970 |
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| Goodbody (Euronext Growth Adviser and Broker) David Kearney Don Harrington Finbarr Griffin | +353 1 667 0420 |
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| J.P. Morgan Cazenove (Broker) James A. Kelly Mose Adigun
| +44 (0) 20 7742 4000 |
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| FTI Consulting Matt Dixon Dwight Burden | +44 (0)20 3727 1000
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About FD Technologies
FD Technologies is a group of data-driven businesses that unlock the value of insight, hindsight and foresight to drive organisations forward. The Group comprises KX, the leading technology for real-time continuous intelligence; First Derivative, which provides technology-led services in capital markets; and MRP, the only enterprise-class, predictive Accounts Based Marketing solution. FD Technologies operates from 14 locations across Europe, North America and Asia Pacific, and employs more than 3,000 people worldwide.
For further information, please visit www.fdtechnologies.com and www.kx.com
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