Aquis acquires NEX Exchange

Aquis

Pan-European securities exchange services group, Aquis Exchange said it has acquired NEX Exchange.

NEX was owned by CME Group before the acquisition.

Aquis said in a statement that its board believes that with Aquis’ experience in both building new businesses in the exchange industry and also increasing liquidity, it has the ability to transform NEX Exchange at a time when MiFID II implications and other factors make the industry ripe for innovation. The Board believes that the Acquisition provides a unique opportunity to build a pan-European, technology-driven, listing exchange for growth companies.

Aquis said it paid a sum of $3.4 million for the transaction. The group said the purchase price includes a cash consideration of £1, and an approximately £2.7 million based on NEX Exchange’s current working capital levels.

The exchange services provider said it plans to become a leading exchange services group in Europe, with a focus on listings for smaller or ‘growth’ companies.