Private equity firm CVC Capital Partners, via its CVC Asia Fund IV, has announced that it has entered into an agreement for the sale of Retail FX and CFDs broker OANDA Global Corporation to prop trading firm FTMO Group.
The terms of the transaction, which is subject to customary regulatory approvals, were not disclosed.
We had reported in mid 2024 that CVC was putting OANDA up for sale, and had engaged investment bankers to find a buyer and help negotiate a sale of the company.
CVC acquired OANDA in 2018, at a reported value of $175 million.
Headquartered in the Czech Republic, FTMO is a retail prop trading firm – or more formally a provider of educational and training services, offering its customers an opportunity to test and develop their trading and risk management skills. FTMO has in recent months added a number of experienced FX industry executives, including former Skilling CEO Michael Kamerman, and former 26 Degrees Cyprus CEO Riana Chaili, as it apparently was preparing to expand into retail brokerage services.
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.
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 said it 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. JPMorgan acted as the financial adviser to FTMO, and Latham & Watkins LLP acted as the legal adviser to FTMO.
