Görlitz, 23 August 2022 | niiio finance group AG (ISIN: DE000A2G8332), Software-as-a-Service platform for asset and wealth management, has today completed the full takeover of order routing provider FixHub GmbH as planned. As a consequence, niiio is acquiring FixHub retroactively as of 1 January 2022 in return for a cash payment of EUR 4 million. Approximately half of the payments will be made in 2022, with the remainder to be made in five tranches in the subsequent years 2023 to 2027. The transaction is debt financed.
Founded in 2013, FixHub operates a fully hosted and managed electronic order routing network. Through this network, buy-side and sell-side institutions are connected in order to exchange orders and trade-related information in all relevant asset classes.
In a high-growth niche market, FixHub generated approximately EUR 0.7 million in revenues in the 2021 financial year with an EBITDA margin of over 85%. With this acquisition, niiio is taking a further step in its roll-up strategy which entails offering banks and financial service providers a holistic ecosystem as a one-stop-shop platform in which all solutions are modular and easily compatible with each other. In line with its strategy, niiio sees itself as an industry consolidator in a highly fragmented market consisting of numerous small providers of niche solutions.
About niiio finance group AG:
niiio finance group AG (niiio) is creating a scalable pan-European WealthTech platform by bundling technological innovations in order to enable asset and wealth managers to digitalise their processes and optimally serve their clients. niiio is a Software-as-a-Service (SaaS) provider for asset and wealth management. As a “one-stop shop”, the company digitalises the processes of its more than 80 European customers so that they can work efficiently, flexibly and on a legally compliant basis. As an industry pioneer, niiio is also driving the consolidation of the software market and plans to replicate existing processes in a decentralised manner via distributed ledger technology (DLT) and blockchain in the medium to long term. niiio’s vision is the cost-effective digital issuance, custody, management and subsequent trading of securities based on DLT – and, as a consequence, decentralised settlement based on blockchain technology.
Disclaimer:
This release contains statements about the future development of the niiio Group. These forward-looking statements are based on the Management Board’s current expectations, assumptions and forecasts, and the information currently available to the Management Board. They have been compiled to the best of the Management Board’s knowledge. As far as such forward-looking statements are concerned, no guarantee can be given and no liability can be assumed that the future developments and results mentioned will occur as presented. Rather, future developments and results depend on various factors. They entail risks and uncertainties that lie beyond the Company’s control and are based on assumptions that may not prove to be accurate. Notwithstanding any legal requirements to revise forecasts, we do not assume any obligation to update the forward-looking statements made in this release.
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