Deutsche Boerse To Buy 360T Beteiligungs GmbH For 725 Mln Euros - Quick Facts

(RTTNews) - German stock exchange operator Deutsche Boerse AG (DBOEY, DBOEF) has agreed to acquire Germany-based foreign exchange trading platform 360T Beteiligungs GmbH for 725 million euros, or $796 million.

Deutsche Boerse said that the company and shareholders of 360T, including Summit Partners, signed a definitive agreement regarding the acquisition. 360T caters to a broad customer base, including corporates, buy-side firms, and banks, with double-digit annual revenue growth since its inception in 2000.

Deutsche Boerse plans to finance the acquisition by using a combination of debt and equity, so as to minimise a potential impact on the credit rating.

The company expects the transaction to be immediately accretive to its cash earnings per share without synergies, and meet customary ROI targets upon realisation of the mid-term synergy targets.

The completion of the transaction is subject to the approval by competition and supervisory authorities.