SIX announced its completed the acquisition of Aquis, which the exchange expected to boost its position as a pan-European exchange innovator at scale, with an aggregated market share of 15% and access to 16 capital markets across Europe. Financial details were disclosed in November when the all cash deal was first announced, at £207 million ($283.9 million) based on treasury stock methodology versus an implied enterprise value of approximately £194 million.
The acquisition positions SIX as the only exchange group providing listing venues in all major European financial centers, including Switzerland, the EU, and the UK.
Bjørn Sibbern, CEO of SIX, said in a statement: “With Aquis, we gain not only access to new markets but also the technology and expertise needed to drive innovation at scale. We aim to offer our clients a unified experience with ‘One Plug, Multiple Trading Venues’ – a single connection providing access to Switzerland, Spain, and the UK – ensuring more liquidity, better market access, and innovative trading solutions.”
David Stevens, CEO of Aquis, said in a statement: “We will continue to innovate in trading, to deploy cutting-edge technology, and to provide a tailored listings environment for the UK’s high-growth smaller companies, while further benefiting from the strength of the European reach and infrastructure of SIX. Together, we are uniquely positioned to shape the future of the European exchange landscape.”
Tomas Kindler, global head of Exchanges at SIX, said in a statement: “Aquis is a key strategic building block for us to become a truly pan-European exchange, listing venue for growth companies, and trading technology provider.”
Aquis will continue to operate under its established brand, with its existing management team and business model, preserving its agile execution capabilities. This acquisition sets the stage for SIX to deploy Aquis’ technology as a nucleus for capital markets innovation.