DBOEF Deutsche Boerse Ag Namen Akt (PK)

By Pietro Lombardi

Deutsche Boerse AG said Thursday that it is buying a majority stake in Quantitative Brokers, a U.S.-based fintech that offers execution algorithms and data-driven analytics for global futures, options and interest rate markets.

Financial details of the deal weren't disclosed. Quantitative Brokers raised $24 million in 2017 from Centana Growth Partners.

The company's founders will keep significant holdings, and the current chief executive, Christian Hauff, will keep his position.

The business is expected to have revenue of $25 million this year.

"Besides further double-digit revenue growth at Quantitative Brokers, the combined business is expected to deliver significant synergies," Deutsche Boerse said.

The deal should be completed by the end of the year.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

September 17, 2020 04:30 ET (08:30 GMT)

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