While no press announcements have been forthcoming from either Triple Point or Ion, the acquisition of Triple Point by Ion Investments has been consummated. The Westport CT (home of Triple Point) newspaper says the deal was announced last Saturday (though you’d be hard pressed to find that announcement anywhere other than that newspaper), and sources at Triple Point indicate that there will be no public announcement of the transaction forthcoming, or at least none are planned at this time. Those same sources do indicate that coincidental to the deal closing, Triple Point’s founder and president, Peter Armstrong, has left the company and that no permanent replacement has yet been named.
So, what are the implications for the company and their customers? Without an official statement from either Triple Point or ION, it’s hard to say for sure; however, the unofficial message is that the company will continue to operate independently of any of the other Ion companies (which includes Ion Trading and Wall Street Systems – both which are primarily focused in the financial trading sectors), will continue to pursue acquisitions in-line with their “commodity management” strategy and will stay the course that the company has been following for the last couple of years.