Private equity major CVC has agreed to sell online trading platform OANDA Global Corporation to FTMO, the Czech-headquartered trading education and training firm, according to an announcement.
Financial details of the deal were not disclosed but CVC said the transaction will be carried out by its wholly-owned subsidiary CVC Asia Fund IV.
The fund acquired all of the outstanding equity of OANDA in 2018. Founded in 1996, OANDA provides multi-asset trading, currency data, and analytics services to retail and corporate clients.
Regulated in major financial hubs, including New York, Toronto, London and Singapore, the company has expanded under CVC’s ownership since 2018 with investments in technology, product development and global operations.
Siddharth Patel, Managing Partner at CVC, noted OANDA’s transition from a regional foreign exchange provider to a fully diversified offering.
FTMO co-founders Otakar Suffner and Marek Vasicek said OANDA’s regulated footprint and risk management expertise align with FTMO’s focus on training and education for traders.
FTMO is a global provider of educational and training services, offering its customers an opportunity to test and develop their trading and risk management skills.
It plans to operate OANDA as a standalone business after completion, pending customary regulatory approvals.
Last year, CVC raised $6.8 billion for its sixth flagship Asia fund to make control, co-control, and partnership investments in core consumer and services sectors across the region.
CVC has one of the largest and longest-established pan-regional office networks of any private equity business in Asia and has been active in the region since 1999.
Last month, CVC acquired a 49% stake in Star Vision, the operator of Korea’s leading colour contact lens brand OLENS. Its infrastructure arm, CVC DIF, also acquired a 49.9% stake in Singapore hazardous waste management firm ECO in November.
