Investing.com -- Aquis Exchange Plc's (LON:AQX) stock more than doubled on Monday (NASDAQ:MNDY) after the takeover announcement by SIX Swiss Exchange.
The deal places Aquis’ valuation at £194 million, marking a significant premium over recent trading values.
This move comes as SIX seeks to expand its reach in the European market, broadening its service offerings across asset trading, market data, and technology solutions.
In a joint statement, SIX said that integrating Aquis will boost SIX’s strategy to address "liquidity fragmentation" within European exchanges.
“We believe that combining Aquis with SIX's platform is a compelling opportunity to bring together two businesses with a shared commitment to capital markets innovation. The combination will add Aquis' strong offering to our traditional primary exchange and data businesses, complementing SIX's existing growth listing segments,” said Bjørn Sibbern, SIX’s Global Head of Exchanges.
Aquis, known for its exchange platform that includes markets and proprietary technology, has positioned itself as a challenger in Europe by providing streamlined, cost-effective trading solutions.
As per Aquis’ founder and CEO Alasdair Haynes, this takeover will support the company’s goals, especially within small- and mid-sized enterprise markets, and help grow Aquis’ technology division on a “European stage.”