Consolidation in the Retail FX brokerage space is picking up.

Canada based Retail FX brokerage group OANDA has announced that it has entered into an agreement to acquire 100% of the shares of leading Poland-based multi-asset class broker, Dom Maklerski TMS Brokers S.A. – known commercially as TMS Brokers. TMS is the second largest domestic Retail FX broker in Poland, to XTB.

OANDA is buying TMS from Warsaw based alternative investment firm ForeVest Capital, which acquired control of TMS in 2011. No financial terms of the transaction were released. The deal is still subject to regulatory approval.

A leading broker in the Polish FX and CFD market, TMS was first established more than 20 years ago and is regulated by the Polish Financial Supervision Authority (KNF), giving TMS access to markets and clients in the European Union via the EU MiFID license passport program.

Gavin Bambury, CEO of OANDA, said,

“We are delighted with the deal and I’d like to personally welcome all the TMS team to OANDA. Europe remains a key strategic priority for our business. 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.”

Marcin Niewiadomski, CEO of TMS, said,

“We are delighted to become a part of such a strong group with a solid capital base and worldwide presence. 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.”

Artur Haze, Managing Partner of ForeVest Capital, said,

“During our time managing TMS, the firm built a solid client base throughout Poland and the Baltics, while also developing deep-seated technological expertise. 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.”

Interestingly, OANDA indicated that it is not done with acquisitions. The company noted that TMS is the first in a number of strategic acquisitions OANDA is looking to complete over the next two years. Under Bambury’s leadership, the firm has undergone a transformative change in its operational configuration, widening its product offering and increasing its marketing investment in order to drive scalable, sustainable growth.

OANDA is owned by CVC Capital Partners, a leading private equity and investment advisory firm.

TMS Brokers is the oldest multi-asset broker in Poland. Since 1997, TMS provides service to thousands of Polish and European customers offering trading on FX, CFDs on indices, cryptocurrencies, single stocks and commodities with MT4/MT5 platforms and an innovative proprietary mobile app. TMS’ multiple award-winning team helps individuals and companies with all currency and equities related services that include advisory and analysis, money exchange and licensed digital payment solutions (PSD).