Australia-based FX and CFD trading provider AxiCorp has earlier this week announced that it will acquire the UK-headquartered trading technology firm Star Financial System.
The cash-based deal will include Star’s technology, staff, operations and licenses, but it does not necessarily represent a signal for radical change. AxiCorp’s CEO Rajes Yohannan noted in a statement that the company views the move more as a partnership, than an acquisition.
In a highly competitive industry where consolidation plus regulatory and technological change are cited as looming threats, acquisitions have increasingly become a part of AxiCorp’s strategy,” he added.
AxiCorp has also acquired the companies One Financial Markets (OFM) and AxiForex, bringing them under its corporate umbrella.
AxiCorp was founded in 2007 and currently has operations in Dubai and London apart from Australia.