FTSE 250-listed shipping services and investment banking group Clarkson PLC has acquired 100% of Zuma Labs, a technology provider serving the Forward Freight Agreement (FFA) and commodities markets.
Founded in 2020, London-based Zuma was established to meet increasing demand for real-time data and technology-led efficiency in freight and derivatives trading.
Its flagship product, Venetian, is a hybrid voice and electronic trading application that aims to enable market participants to collect, record and distribute live pricing through a single interface.
The company’s technology is already used by leading broking houses globally, particularly within the dry FFA market.
Zuma reported revenue of $7.4 million for 2024, a jump from 2023’s figure of $5.2m.
“Venetian was built from the ground up to meet the real-world needs of brokers and traders,” said Chase Bennett, CEO of Zuma Labs.
“It is the modern way to broker, analyse and assist in trading FFA markets. Today, we have a significant presence in the Dry FFA market but with Clarkson as a strategic partner – bringing unmatched market coverage, expertise, and a shared vision of technology as an enabler – we’re well-positioned to accelerate adoption across multiple markets.”
Andi Case, CEO of Clarkson PLC, added: “Chase and the Zuma team showcase tools for trade with AI capabilities that unlock significant opportunities across our markets.
“Innovation has always been at the heart of our strategy, and this acquisition reinforces our commitment to technology enhanced engagement, growth, and delivering on the evolving needs of all market brokers and their clients in an increasingly complex global trading environment.”
Clarkson PLC has been listed in London for almost 40 years and currently has a market cap of around £1.23 billion.
Its share price has risen by 55p to 3,990p since the acquisition was announced.
The deal is intended to accelerate the expansion of Venetian across FFA, commodity and maritime markets, while supporting broader adoption of AI-enabled trading and data tools.
The combined group will look to enhance digital engagement and deliver greater efficiency across complex global trading environments.
Zuma will continue to operate under its own name and brand as a wholly owned subsidiary of Clarkson PLC.