Deutsche Börse AG Buys 360T Group
July 29, 2015
360T Group, the leading global provider of a multi-bank, multi-asset trading platform, announced today that Deutsche Börse Group has signed a definitive agreement to buy the company for a total purchase price of 725 million Euro. The completion of the transaction is subject to regulatory and anti-trust approval.
This strategic step will position 360T for continued strong global growth on a new scale, whilst it enables Deutsche Börse Group to enter the growing and attractive FX market. Furthermore, the deal teams have identified a full range of unique market-based revenue synergies that will strengthen both companies in terms of further competitive advantages. Becoming the core of Deutsche Börse Group’s FX strategy, 360T will remain independent.
The transaction represents one of the largest Fintech deals recorded in 2015 so far as measured by transaction volume, making 360T the most valuable Fintech company in Germany. 360T has recorded double digit annual growth figures since its inception. Investors who have supported to pave the way for 360T’s extraordinary success include the German mid-cap private equity firm Brockhaus Private Equity and the US firm Summit Partners.
Carlo Kölzer said: “We are delighted to take the exciting leap forwards to the next game level with one of the most important international exchanges in the world. This deal is creating the exclusive constellation to leverage 360T’s deep and unique industry position, including its wide customer base, with the scale and strength of Deutsche Börse Group.”
“The new FX industry logic of trading and vertical integration with an exchange will bring tremendous value in terms of width in trading styles and depth of settlement and clearing – creating the potential to revolutionize the FX market. We are looking forward to lift the opportunities created by this deal for all parties”, he added.
360T was advised on the transaction by Hengeler Mueller and Jefferies LLC.
About 360T Group
360T is an independent and globally-established trading venue. Its fast growth confirms the company’s status as a provider of web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives.
360T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T’s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorised under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).
Further information: www.360t.com
Tel: +49 69 900 289 112