IFX Payments has reached an agreement in principle to
acquire Argentex Group PLC. The deal brings together two companies active in
the UK payments and foreign exchange (FX) markets.
Argentex is a publicly listed company. It offers foreign
exchange services and is authorised as an electronic money institution. The
company serves institutions, corporates, and high-net-worth individuals.
IFX Payments Announces Argentex Acquisition Deal
“We are very pleased to announce the proposed acquisition of
Argentex, which will enhance our regulated capabilities, diversify our product
portfolio, particularly in FX risk management and institutional offering, and
further expand our geographical reach and network,” Will Marwick, CEO at IFX
Payments said.
Argentex was founded in 2012. It joined the London Stock
Exchange’s AIM market in 2019, raising £14 million at the time. Its market
capitalisation reached £120 million. By 2022, the firm had processed over
US$200 billion in FX transactions across more than 140 currencies. Argentex
also has offices in Amsterdam, Australia, and Dubai.
“We look forward to the Argentex team joining us and working
together towards our shared ambitions in the rapidly growing global payments
and currency risk management solutions sectors,” Marwick added.
It’s a week of big news for IFX Payments 📣 We are pleased to announce we have reached an agreement in principle to acquire Argentex Group PLC. More information can be found on the link below 👇 https://t.co/3H6H0xw99Q pic.twitter.com/0DdFTaJa36
— IFX Payments (@ifxpayments) April 25, 2025
You may find it interesting at FinanceMagnates.com: Argentex
Expands Global Reach with AFSL for Currency Risk Management.
Gaining Institutional Reach
IFX Payments is an alternative banking partner. It is
seeking to expand its presence in EMEA. The proposed acquisition forms part of
its strategy to grow its services for corporates and financial institutions.
If the acquisition is completed, IFX will gain additional
regulatory coverage and access to a broader institutional client base. The deal
would also enable IFX to offer structured FX products and fund-related
services. Argentex clients will be able to use IFX’s ibanq platform and other
technical features.
This article was written by Tareq Sikder at www.financemagnates.com.
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