Swiss exchange operator SIX Group AG has entered into an agreement to acquire the British trading exchange Aquis Exchange Plc for 194 million pounds ($250 million). This is reported in a press release from SIX.
The offer price is 727 pence per Aquis share (120% higher than the closing price on November 8, 2024).
The deal will be the largest for SIX since the acquisition of Bolsas y Mercados Espanoles SA, the operator of the Spanish stock exchange, for 2.8 billion euros ($3 billion) in 2020.
The deal is aimed at strengthening SIX's exchange business outside Switzerland and Spain, as well as expanding the list of technologies and information products of the British company.
European exchanges are looking for ways to remain competitive amid relatively low trading volumes over the past few years due to fragmentation of trading platforms and reduced liquidity.
Aquis operates the pan-European equity trading Center, which covers 16 European markets, and the Aquis Stock Exchange in the UK. In addition, the company licenses proprietary market infrastructure and market data technologies and includes divisions of Aquis Exchange, Aquis Stock Exchange and Aquis Technologies. The headquarters is located in London (England).
SIX is a Swiss exchange operator. The company provides services related to securities transactions, financial information processing, payment transactions and creates a digital infrastructure. The headquarters is located in Zurich (Switzerland).
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