CVC Asia Fund IV, via its holding limited partnership, has entered into an agreement for the sale of OANDA Global Corporation (“OANDA”) to FTMO group (“FTMO”). The terms of the transaction, which is subject to customary regulatory approvals, are not disclosed.
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Founded in 1996, OANDA is a leading, global digital platform for active traders, offering multi-asset trading, currency data, and analytics to retail and corporate clients. With regulated entities and leadership teams in many of the world’s most active financial markets, including New York, Toronto, London, Warsaw, Singapore, Tokyo and Sydney, OANDA enables retail clients to trade in a wide range of asset classes on an award-winning trading platform.
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Since 2018, under CVC Funds’ ownership, OANDA has transformed, with a new management team that has invested in adding new products around the world, setting up a dedicated back-end in Poland, and building a scalable award-winning mobile first trading platform.
Headquartered in the Czech Republic, FTMO is a global provider of educational and training services, offering its customers an opportunity to test and develop their trading and risk management skills.
Siddharth Patel, Managing Partner at CVC, said: “It has been a privilege to support OANDA’s transition, from the recruitment of a new management team under Gavin Bambury, who joined us in 2019, to deep investment in technology, product and operations. The team have taken OANDA from a regional foreign exchange provider to a fully diversified offering, whilst building upon its historic strengths in regulatory compliance and best-in-class customer support. We would like to thank the entire team at OANDA for their efforts.”
Gavin Bambury, CEO of OANDA, said “Providing world-class multi-asset trading capabilities with a client-focused mindset is our singular purpose at OANDA. We are well positioned for future growth thanks to a global footprint of licenses, OANDA’s trusted brand, the scalable technology platform and the broad offering we provide to our customers. We thank CVC for their confidence in us and support of our mission of transforming OANDA into the global leader it is today. We are excited to continue delivering on our strategy under FTMO’s ownership.”
Otakar Šuffner, FTMO’s co-founder and CEO, and Marek Vašíček, FTMO’s co-founder and CTO, said: “The acquisition of OANDA is a key step in fulfilling our long-term vision. We believe it will be highly beneficial for all relevant market participants, including the existing and prospective customers of both FTMO and OANDA. We are delighted to welcome OANDA’s existing management team, whose track record in complex, regulated markets, strong expertise in risk management and customer-centric philosophy fully complements FTMO’s own vision and strategy. We look forward to building together a unique, comprehensive trading powerhouse group of companies that has not existed in the market until now.”
FTMO plans to maintain the OANDA group as a fully standalone business after completing the transaction.
Nomura and Santander acted as joint financial advisers to CVC, and Milbank (Hong Kong) LLP acted as the legal adviser to CVC. J.P. Morgan acted as the financial adviser to FTMO, and Latham & Watkins LLP acted as the legal adviser to FTMO.
About CVC
CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure. CVC’s private equity platform manages €117 billion of assets and comprises four strategies: Europe/Americas, Asia, Strategic Opportunities and Growth. CVC’s Credit platform has assets under management of €41 billion and the Secondaries business manages €15 billion. CVC’s ability to bring to bear the full extent of its global resources on any situation gives it a competitive advantage when sourcing new investment opportunities and when creating value during CVC’s ownership period.
CVC Capital Partners plc is a public limited company listed on Euronext Amsterdam.
