Koch subsidiary TNS acquires BT’s Radianz business

Client(s) Koch Industries, Inc.

Jones Day is advising Transaction Network Services (TNS), a subsidiary of Koch Equity Development, LLC, in connection with its acquisition of BT’s Radianz business.

Launched over 20 years ago, Radianz provides financial information exchange networks and connects a global community of brokers, institutions, exchanges and clearing and settlement houses to the thousands of applications and services they need for the everyday running of the world’s capital markets. TNS is a global provider of ultra-low latency trading infrastructure, connectivity, and market data services.

The transaction is expected to complete during the first half of 2026, subject to customary closing conditions, including regulatory clearance.