OANDA Acquires TMS
OANDA Global Corporation announced its agreement to acquire a 100% share of Polish broker Dom Maklerski TMS Brokers S.A. The Polish broker is commonly known as TMS Brokers.
With this deal, OANDA, a retail forex brokerage, is planning to strengthen its services in the European market. Specifically, that is in the Baltic countries.
Gavin Bambury, CEO of OANDA, said, Europe remains a key strategic priority for their business. In fact, The acquisition of TMS gives OANDA a significant presence in a key European market.
Moreover, it gives OANDA a base to grow across the Baltic countries, complementing their already well-established, successful operations throughout Western Europe.
Established in 1997, TMS is the oldest and second-largest local Polish brokerage. The Polish Financial Supervision Authority (KNF) is its regulating body.
OANDA purchased the brokerage from ForeVest Capital, which in 2011 acquired controlling stakes of the Polish brokerage.
Currently, the approval for the deal is pending with the regulator.
During their time managing TMS, the firm built a solid client base throughout Poland and the Baltics. It also developed deep-seated technological expertise, said ForeVest Capital managing partner Artur Haze.
As such, he believes there is a strong strategic fit between TMS and OANDA. He’s very pleased the firm will be able to continue on its current growth path as part of a leading global brokerage, Haze added.
More Acquisitions in the Pipeline
OANDA also revealed that it is expecting to close more of such deals over the next couple of years. furthermore, it highlighted the changes in the operational configuration by expanding products and increasing market investment. And this is under the leadership of Bambury, who joined the company in August 2019.
They believe that through this transaction, TMS will strengthen its position in Poland and the Baltic States. This is, as they deliver access to new products, modern technology, and investment opportunities to the global markets. Additionally, to their current and prospective clients, Marcin Niewiadomski, CEO of TMS, added.
