CVC Asia Fund IV has agreed to sell OANDA Global Corporation
to FTMO Group. The deal is subject to regulatory approvals. The financial terms
were not disclosed.
OANDA, founded in 1996, provides a digital trading platform
for retail and corporate clients. It offers multi-asset trading, currency data,
and analytics. The company operates in major financial hubs, including New
York, London, and Tokyo.
OANDA Transforms Under CVC, FTMO Acquisition
“The team have taken OANDA from a regional foreign
exchange provider to a fully diversified offering, whilst building upon its
historic strengths in regulatory compliance and best-in-class customer support.
We would like to thank the entire team at OANDA for their efforts,” Siddharth
Patel, Managing Partner at CVC, said.
Since 2018, OANDA has expanded under CVC Funds. It
introduced new products, established a back-end office in Poland, and developed
a mobile trading platform.
“We thank CVC for their confidence in us and support of
our mission of transforming OANDA into the global leader it is today. We are
excited to continue delivering on our strategy under FTMO’s ownership,” Gavin
Bambury, CEO of OANDA, commented.
FTMO Welcomes OANDA’s Management
“We are delighted to welcome OANDA’s existing management
team, whose track record in complex, regulated markets, strong expertise in
risk management and customer-centric philosophy fully complements FTMO’s own
vision and strategy,” Otakar Šuffner,
FTMO’s co-founder and CEO,
and Marek Vašíček, FTMO’s co-founder and
CTO, commented.
FTMO, based in the Czech Republic, provides educational and
training services for traders. It plans to keep OANDA as a standalone business.
They added: “We look forward to building together a
unique, comprehensive trading powerhouse group of companies that has not
existed in the market until now.”
Nomura and Santander advised CVC, while Milbank (Hong Kong)
LLP provided legal support. J.P. Morgan advised FTMO, with legal counsel from
Latham & Watkins LLP.
This article was written by Tareq Sikder at www.financemagnates.com.
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