SIX Group agrees to buy Aquis Exchange

Editorial

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SIX and Aquis have agreed terms on a recommended cash offer of 727 pence per share, a 120% premium on Friday’s closing price.

Founded in 2012 by industry veteran Alasdair Haynes, Aquis operates a pan-European MTF for cash equities; licensing of proprietary market infrastructure technologies; an UK primary listing growth market; and market data unit.

SIX says Aquis offers a “compelling strategic opportunity”, helping to create a pan-European exchange across traditional primary exchange and MTF businesses. Meanwhile combining Aquis’ technology business with SIX’s capabilities will unlock recurring revenue streams.

Bjørn Sibbern, global head, exchanges, SIX, says: “As part of SIX, Aquis will continue to operate under its existing brand and business model with maximum agility while benefitting from our resources, scale and further investment, enhancing Aquis’ ability to continue to develop its business.”

Adds Haynes: “As part of SIX, we have an exciting opportunity to accelerate the development of our business and compete more effectively on the European stage, while retaining our entrepreneurial spirit.”