UK news outlet Sky News is reporting that Retail FX and CFDs broker OANDA is being actively shopped by private equity firm CVC Capital. CVC acquired OANDA in 2018, at a reported value of $175 million.

Sky News states that CVC has hired investment banking firms Nomura and Santander to oversee the sale. Nomura and Santander are apparently actively marketing OANDA to potential acquirors.

OANDA has been run by CEO Gavin Bambury, based out of London, since 2019. Without giving sources, Sky News reported that OANDA is expecting Revenues this year of about $175 million.

OANDA being put on the block makes the M&A market in the FX and CFDs business a little more crowded. Earlier this year we reported that Copenhagen based broker Saxo Bank was also hiring investment bankers to find a buyer for the company. Saxo’s main shareholders, China’s Geely Group and Finland’s Sampo/Mandatum, tried to exit by taking the company public via a SPAC merger, but that deal was ultimately pulled in late 2022. Another top-tier broker, eToro, also failed to go public that year. A third broker, ThinkMarkets, also pulled its planned IPO-via-SPAC late last year.

The most recent successful acquisition in the Retail FX and CFDs space was Capex.com’s purchase of NAGA Group (ETR:N4G), achieved via a reverse merger. The transaction, announced in December, was approved by NAGA shareholders in April and recently received full regulatory approvals, and should close before the end of August. Based on NAGA Group’s current market cap, the combined company will be valued at around €180 million (USD $196 million).

We will continue to follow this story as it develops.