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December 23, 2021updated 05 Jan 2022 12:28pm

FNZ concludes sale of GBST to Anchorage Capital Partners

Wealth management platform FNZ has concluded the sale of Australian financial technology provider GBST to private equity fund Anchorage Capital Partners.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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Financial terms of the deal were not disclosed.

Following the transaction, FNZ will reacquire GBST’s capital markets division for an undisclosed sum. The transaction is expected to close in the first quarter of 2022.

This deal covers GBST’s capital markets team as well as its Syn~ product suite, which provides real-time trade and settlements processing capabilities.

This move will help FNZ to expand its product and service offering to both existing and future clients. It is also expected to boost the company’s global capabilities in listed securities trading and post-trade processing.

Background

FNZ agreed to buy Australian peer GBST for A$269m ($185.6m) in 2019.  The deal was concluded in November last year.

However, the deal was blocked by UK’s Competition and Markets Authority (CMA) the same month following an in-depth probe.

The CMA investigation conceded that the deal could lead to competition concerns in the supply of retail platform solutions to UK investment platforms and FNZ was directed by the competition watchdog to sell the entire GBST business.

In April this year, FNZ was again directed by CMA, after a reassessment of the deal, to offload GBST but with a right to buy back GBST’s assets affiliated to its capital markets business.

Comments

FNZ Securities managing director Scott Webster said: “We’re excited that FNZ and GBST capital markets division are coming together to expand our presence in securities trading and post-trade processing.

“Capital markets continues to undergo major structural change that will require service providers to renew their systems and processes. This creates a huge opportunity to combine the complementary product strengths of FNZ and GBST’s capital market division.”

GBST CEO Rob DeDominicis said: “This is a key milestone for GBST, and we are delighted to have been acquired by Anchorage Capital Partners, which has a strong reputation of investing in organisations like ours with outstanding market potential and an enviable list of Tier 1 financial services clients.

“We are pleased to have the support of Anchorage to drive continued growth, including expansion in key existing markets such as the UK and Australia.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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