Aquis Joins Forces with SIX in Strategic Acquisition Deal
Deal News | Nov 11, 2024 | EIN
SIX Group AG has announced a recommended cash offer for Aquis Exchange Plc, marking a significant expansion into the European trading arena. Aquis, known for its pan-European multi-lateral trading facility and market technologies, will be integrated into SIX’s existing business. The acquisition, valued at approximately £207 million, aims to enhance SIX’s exchange capabilities beyond its home markets of Switzerland and Spain. The strategic rationale focuses on leveraging Aquis’s advanced technology to create a competitive pan-European exchange and extend the reach of tradable securities, thereby boosting market liquidity and retail brokerage services. Both companies emphasize a commitment to capital markets innovation, expected to unlock recurring revenue streams and strengthened service offerings.
Sectors
- Financial Services
- Technology
Geography
- United Kingdom – Aquis is headquartered in London, making the UK a key geographical location for the transaction.
- Switzerland – SIX Group is based in Switzerland, making it another central geography in this acquisition.
- Europe – The acquisition aims to create a pan-European exchange, thus involving multiple European markets.
Industry
- Financial Services – The acquisition involves financial institutions focusing on securities exchange and market infrastructure.
- Technology – Aquis is known for its market technology solutions, which will integrate with SIX’s platforms to enhance their offerings.
Financials
- 207 million – The total value of the acquisition offer for Aquis Exchange.
- 727 pence per share – The price per Aquis share offered by SIX.
- 68% – Premium over the 6-month volume weighted average price recognized by the acquisition.
- 120% – Premium over the closing price of Aquis share on the last trading day before the offer began.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SIX Group AG | Bidding Company | Company | A leading Swiss-based financial services firm, offering exchange services. |
| Aquis Exchange Plc | Target Company | Company | A UK-based multi-lateral trading facility and technology firm. |
| Bjrn Sibbern | Executive | Person | Global Head of Exchanges at SIX, advocating for the strategic acquisition. |
| Alasdair Haynes | Executive | Person | CEO of Aquis Exchange, supporting the alignment with SIX. |