Deutsche Boerse Buys Majority Stake in US Fintech Quantitative Brokers
September 17 2020 - 4:45AM
Dow Jones News
By Pietro Lombardi
Deutsche Boerse AG said Thursday that it is buying a majority
stake in Quantitative Brokers, a U.S.-based fintech that offers
execution algorithms and data-driven analytics for global futures,
options and interest rate markets.
Financial details of the deal weren't disclosed. Quantitative
Brokers raised $24 million in 2017 from Centana Growth
Partners.
The company's founders will keep significant holdings, and the
current chief executive, Christian Hauff, will keep his
position.
The business is expected to have revenue of $25 million this
year.
"Besides further double-digit revenue growth at Quantitative
Brokers, the combined business is expected to deliver significant
synergies," Deutsche Boerse said.
The deal should be completed by the end of the year.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
September 17, 2020 04:30 ET (08:30 GMT)
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