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CVC Capital Partners Asia Fund IV to acquire OANDA

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A wholly owned subsidiary of CVC Capital Partners (CVC) Asia Fund IV is to acquire all of the outstanding equity of online retail trading platform OANDA. The transaction is subject to customary regulatory approvals.

Founded in 1995, OANDA’s technology and institutional-grade execution across a wide range of asset classes enables clients to trade currencies, equity indices, commodities, treasuries and precious metals.
 
Under the new ownership of CVC Asia Fund IV, OANDA will continue to be led by Chief Executive Officer, Vatsa Narasimha, who was pivotal in the investment from CVC Asia Fund IV and instrumental in growing the business at a CAGR of over 25 per cent since 2015.
 
Siddharth Patel, Senior Managing Director at CVC says: “This is an exciting opportunity to invest in a leading global player with a consistent track record of growth and a highly cash generative business, in a sector known well to CVC. We look forward to working closely with Vatsa and his team as we help support OANDA, especially in Asia, in making strategic acquisitions and in investing to further broaden its product set.”
 
Narasimha says: “I am excited by the change in ownership and the next phase of OANDA’s development. OANDA is a consumer focused business and the management team has an ambitious strategic and product plan to drive value over the next five years, focusing on both organic and inorganic growth. This strategy is wholly supported by our new owners.”
 
Kittu Kolluri, Chairman of OANDA, says: “Over the years, OANDA has built an exceptional platform with proven scalability to meet all the demands of the company’s growing global client base. Under Vatsa’s leadership there has been a significant change in strategic focus and a number of operational improvements that have delivered strong results laying the foundations for further growth. OANDA is well positioned for its next step forward and will continue to transform the business of foreign exchange and beyond.”
 
Moelis & Company UK LLP acted as the financial adviser to OANDA and Pillsbury Winthrop Shaw Pittman LLP acted as legal advisers. FT Partners acted as exclusive financial adviser to CVC and White & Case LLP and McCarthy Tetrault LLP acted as legal advisers.

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