OANDA Global Corporation, a retail forex brokerage, announced on Tuesday that it has agreed to acquire a 100 percent share of Polish broker Dom Maklerski TMS Brokers S.A., popularly known as TMS Brokers.
With this deal, OANDA is planning to strengthen its services in the European market, especially in the Baltic countries.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
“Europe remains a key strategic priority for our business,” Gavin Bambury, CEO of OANDA, said in a statement. “The acquisition of TMS gives OANDA a significant presence in a key European market and a base to grow across the Baltic countries, complementing our already well-established, successful operations throughout Western Europe.”
Established in 1997, TMS is the oldest and second-largest local Polish brokerage and is regulated under the Polish Financial Supervision Authority (KNF).
OANDA purchased the brokerage from ForeVest Capital, which acquired controlling stakes of the Polish brokerage in 2011. The approval for the deal is currently pending with the regulator.
“During our time managing TMS, the firm built a solid client base throughout Poland and the Baltics, while also developing deep-seated technological expertise,” ForeVest Capital managing partner Artur Haze said. “As such, I believe there is a strong strategic fit between TMS and OANDA. I am very pleased the firm will be able to continue on its current growth path as part of a leading global brokerage.”
More acquisitions in the pipeline
OANDA also revealed that the company is expecting to close more such deals over the next couple of years. It highlighted the changes in the operational configuration by expanding products and increasing market investment under the leadership of Bambury, who joined the company in August 2019.
“We believe that through this transaction, TMS will strengthen its position in Poland and the Baltic States, delivering access to new products, modern technology, and investment opportunities on the global markets to our current and prospective clients,” Marcin Niewiadomski, CEO of TMS, added.
Source: Read Full Article