OANDA gets regulatory approval for TMS acquisition
Canadian Retail FX broker OANDA has announced that it has received regulatory approval to complete the acquisition of leading Polish CFDs broker, Dom Maklerski TMS Brokers SA (TMS). The purchase was approved by the Polish Financial Supervision Authority (KNF) earlier today.
Gavin Bambury, Chief Executive Officer of OANDA, said,
“We’re delighted to have received regulatory approval for the acquisition of TMS Brokers. With the purchase now approved, we’re looking forward to closing the deal and beginning work on the integration of our technology infrastructure, key tools and trading resources in order to deliver the best possible trading experience to OANDA and TMS clients alike.”
OANDA first entered into an agreement to acquire 100% of the shares of TMS Brokers in September 2020. 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. TMS is the second largest domestic Retail FX broker in Poland, to XTB.
The deal marks the first in a series of strategic acquisitions OANDA said it is looking to complete in the coming years.
OANDA is owned by CVC Capital Partners, a leading private equity and investment advisory firm.