Deutsche Boerse €725 Million acquisition of 360T

Overview:

• Deutsche Boerse acquired online foreign exchange trading platform 360T from Summit Partners and its minority shareholders for €725 million. 
• Established in 2000, 360T provides online platforms for currency, money market and derivatives trading. 
• Around €90 billion in trades are made daily on 360T, all but one of the 30 Dax companies use the platform, and only two companies have larger portions of the market it works in.
• Summit Partners bought a majority stake in 360T from its founder and CEO Carlo Kölzer.
• The other shareholders were Kölzer and the management board, Brockhaus Private Equity and other venture capital firms.
• The Frankfurt Stock Exchange operator financed the deal through a mix of debt and equity. 
• Jefferies was 360T's financial advisor; Morgan Stanley advised Deutsche Boerse.
• In 2015, Europe's largest stock exchange also acquired all the shares it did not own in two joint- venture securities-indexing companies, Stoxx and Indexium from Six Group for $697 million. 

Ben Naylor - Regional Editor