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Deutsche Börse Group, founded in 1993, has signed a definitive agreement to acquire 360T Group, a multi-bank, multi-asset trading-platform provider.
The purchase price of the acquisition, subject to regulatory and anti-trust approval, is €725 million ($787.4 million), according to a 360T statement.
The acquisition will “position 360T for continued strong global growth on a new scale” as it enables Deutsche Börse Group to enter the “growing and attractive FX market,” according to the statement. “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 deal “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 officials say.
360T, founded in 2000, is also headquartered in Germany and 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).
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- 360T Group,
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