52° Good Afternoon
52° Good Afternoon

Uniondale software company sold to California firm

Coleman Fung, founder of OpenLink.

Coleman Fung, founder of OpenLink. Photo Credit: Newsday / Dick Yarwood

OpenLink, a Uniondale financial software company with offices at RXR Plaza, has been sold to a San Francisco private equity company.

OpenLink, founded by Coleman Fung, its board chairman, sells software to traders in the global commodity, energy, agribusiness, commercial, industrial and financial markets.

The seller is The Carlyle Group, of Washington, D.C., which has owned OpenLink since 2009. Kevin Hesselbirg, chief executive of OpenLink, said the company expanded and added 250 employees during Carlyle's ownership.

The companies did not disclose financial terms of the deal.

“OpenLink is the market leader in cross-asset trading and risk management with a proven track record of success, having driven average organic revenue growth in excess of 20 percent per year since 2006," David Tunnell, a managing director at Hellman & Friedman, said in a news release.

Carlyle, which has notified the Securities and Exchange Commission that it plans an initial public offering, last year paid $3.8 billion for the vitamin and dietary supplement maker NBTY Inc., one of Long Island's largest employers.

Photo: OpenLink founder Coleman Fung  (August 2003)


We're revamping our Comments section. Learn more and share your input.

More news