SIX Group to Acquire Aquis Exchange in Strategic Move to Strengthen European Exchange Capabilities

SIX Group to Acquire Aquis Exchange in Strategic Move to Strengthen European Exchange Capabilities

(IN BRIEF) SIX Group has reached an agreement to acquire Aquis Exchange in a cash offer valued at 727 pence per share. The acquisition, which will enhance SIX’s European exchange capabilities, combines Aquis’s next-generation technology with SIX’s existing trading, data, and post-trade services. This merger aims to strengthen SIX’s pan-European presence, providing new growth opportunities and improving services for SMEs and growth companies. Aquis will continue to operate under its own brand, benefiting from SIX’s resources and investment. The deal offers Aquis shareholders a significant premium, valued at approximately £207 million.

(PRESS RELEASE) ZURICH, 12-Nov-2024 — /EuropaWire/ — SIX Group AG (“SIX”) has reached an agreement to acquire Aquis Exchange Plc (“Aquis”) in a recommended cash offer valued at 727 pence per share. The deal, announced today by the boards of both companies, will see SIX acquire the entire issued and to be issued ordinary share capital of Aquis, marking a significant step in expanding its European exchange operations.

Founded in 2012, Aquis operates across various sectors including a pan-European multi-lateral trading facility (MTF) for cash equities, a UK primary listing growth market, and market data services. With its headquarters in London and an EU base in Paris, Aquis brings a diverse set of capabilities to the table that align closely with SIX’s strategy for growing its exchange business beyond its home markets.

SIX sees this acquisition as an important strategic opportunity, blending Aquis’s next-generation technology solutions with its existing trading, data, and post-trade infrastructure. This merger will create a comprehensive Pan-European Exchange that combines traditional primary exchange and MTF business models. It is expected to provide added value to SIX’s clients by enhancing access to exchange services and supporting growth opportunities for businesses across Europe, especially in Switzerland and Spain.

Bjørn Sibbern, Global Head of Exchanges at SIX, stated: “This acquisition represents a powerful opportunity to bring together two companies committed to capital markets innovation. Aquis’s advanced offerings complement our existing services and will enhance SIX’s ability to support SMEs and growth companies, reinforcing our position as a leader in the European exchange market.”

Aquis CEO, Alasdair Haynes, expressed his pride in the company’s achievements and welcomed the opportunity for accelerated growth under SIX. He added, “This acquisition de-risks Aquis’s future value creation and provides immediate value to our shareholders at a significant premium. Joining forces with SIX allows us to continue innovating while retaining our entrepreneurial spirit.”

The transaction details reveal that Aquis shareholders will receive 727 pence per share in cash, representing a 68% premium over the 6-month average price and a 120% premium over the closing price on 8 November 2024. The total offer values Aquis at approximately £207 million, based on the treasury stock methodology, with an enterprise value of £194 million.

Following the acquisition, Aquis will continue to operate under its own brand and business model, benefiting from the added resources and investment of SIX. The combination of both companies’ expertise aims to drive further advancements in capital markets technology and services for growth-oriented enterprises across Europe.

About SIX
SIX operates a fully integrated exchange value chain across the Swiss and Spanish financial centres, thus ensuring access to the capital markets and the flow of information and money between financial market players. SIX offers a diversified product portfolio for securities trading, stock market transactions, financial information and payment transactions across four business units: (i) Exchanges, with SIX Swiss Exchange and BME Exchange delivering listing, trading and market data services of cash equities, derivatives and fixed income; (ii) Securities Services, offering clearing, settlement and custody, securities finance, tax services and trade repository services; (iii) Financial Information, offering reference, corporate actions and market data, tax and regulatory services, indices and ESG data; (iv) Banking Services, delivering payment services including connectivity (open banking), debit and mobile solutions, billing and payments, and cash and ATMs.

About Aquis
Founded in 2012, Aquis is Europe’s challenger exchange, creating better markets for a modern economy. Aquis has market-leading technology and innovative rules for trading, and offer primary listings and secondary trading of equities, along with global licensing of proprietary technology. Aquis operates across four divisions: i) Aquis Markets, operating lit and dark order books, covering more than 6,500 large-cap and mid-cap securities and ETFs across 16 European markets, ii) Aquis Technologies,  creating and licensing exchange infrastructure technology and services including matching engine and trade surveillance solutions, iii) Aquis Stock Exchange, a Recognised Investment Exchange providing primary and secondary markets for equity and debt products, and iv) Aquis Data, generating revenue from the sale of data derived from Aquis Markets and Aquis Stock Exchange divisions.

Important notices relating to financial advisers
UBS AG London Branch (“UBS”) is authorised and regulated by the Financial Market Supervisory Authority in Switzerland. It is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the United Kingdom. UBS is acting as financial adviser to SIX Group (Switzerland) and no one else in connection with the matters set out in this announcement. In connection with such matters, UBS will not regard any other person as its client, nor will it be responsible to any other person for providing the protections afforded to its clients or for providing advice in relation to the matters set out in this announcement or any other matter referred to herein.

Media Contacts:

SOURCE: SIX Group AG