BUX Financial Services, the UK arm of BUX, a Netherlands-based company, has been acquired by Asseta Holding, the parent company of APM Capital, a UAE-based investment firm. This acquisition comes after ABN AMRO completed the acquisition of BUX’s Netherlands operations, which now functions as a neo-broker. The UK unit of BUX, regulated by the Financial Conduct Authority (FCA), offers contracts for differences (CFDs) and financial spread betting services to retail and professional clients under the brand BUX Markets. The decision to sell the business was already announced by BUX last year, leading to the recent acquisition by Asseta Holding.
Prior to the acquisition deal, BUX Markets had closed its operations to re-evaluate its product offering. BUX also operated a CFD trading platform under its Cyprus-registered entity, which was later closed, and the customer accounts were transferred to AvaTrade. With the sale of the UK and Netherlands units, only the Cyprus-based business of BUX remains operational. Yorick Naeff, CEO of BUX Holding, mentioned that the company is in the process of divesting all remaining regulated subsidiaries, with the recent acquisition marking a new chapter for BFS, promising growth and innovative financial solutions to clients.
The CEO of BUX Financial Services, Salim Sebbata, expressed optimism regarding the acquisition, stating that APM Capital’s resources and reach will enhance BFS’s capabilities and market presence. He emphasized that the acquisition signals a new era for the company, with the potential for growth and delivery of innovative financial solutions. APM Capital’s acquisition of BUX Financial Services aligns with its international expansion strategy, as detailed in the latest press release. The move is seen as a strategic step towards expanding APM Capital’s investment portfolio and strengthening its presence in the UK market, with specific focus on delivering exceptional value to clients.
Despite the significant acquisition, the terms and financial details of the deal were not disclosed by the companies involved. Disha Rajdev, Co-Founder of APM Capital, emphasized the importance of the UK market in their expansion strategy, highlighting BFS’s strong reputation and client-centric approach as aligning with their vision. Rajdev expressed eagerness to collaborate with the BFS team to drive growth and provide exceptional value to clients. The acquisition of BUX Financial Services by Asseta Holding signifies a new phase of growth and expansion for both companies, aiming to leverage resources and market presence to deliver innovative financial solutions to clients in the UK market.
In conclusion, BUX Financial Services’ acquisition by Asseta Holding marks a significant milestone in the companies’ growth and expansion strategies. The sale of the UK unit comes after the completion of ABN AMRO’s acquisition of BUX’s Netherlands operations, showcasing a shift in focus for BUX Holding. With the strategic acquisition by Asseta Holding, BFS is expected to leverage APM Capital’s resources and reach to enhance its capabilities and market presence, focusing on growth and innovation in delivering financial solutions to clients. The partnership between APM Capital and BFS reflects a shared vision for expansion and value delivery in the UK market, aiming to drive growth and enhance client experiences.
