Finance Magnates has learned that O-SYSTEMS, the multi-asset , has been acquired last week in a major deal, that includes O-SYSTEMS’ technology and brand name.
, the CEO, and founder of the trading platform provider which until recently had a major presence in the trading industry, refused to name the buyer but agreed to reveal that it is a large Hong-Kong-based company.
The deal, which was inked last Friday after a long period of negotiations, was brokered by a UK-based third party with significant experience in the trading industry. Lagziel declined to comment on the price of the deal.
As a part of this deal, the buyer will receive O-SYSTEMS’s Bulgaria-based R&D center, as well as its clientele – mostly consisting of Binary Options brokers.
Commenting on the topic, Lagziel said to Finance Magnates: “The buyer was interested in our technological solutions. We are flattered to learn that our innovative approach with B2B automation and CRM solutions was appealing industry leaders.”
Apps are the future
According to Lagziel, the company was especially interested in app-based O-SYSTEMS’ customer acquisition solutions. “Many brokers still live in the desktop mode, but the future of the industry is apps,” Lagziel said.
He pointed to published by Plus500 which revealed that most O-SYSTEMS’ revenue came from mobile, and more specifically from mobile apps. Plus500 has recently extensively invested in its mobile applications across different platforms. “Those who will create the right app, with a proper technology, will manage to onboard customers in the new world,”
Lagziel also criticized brokers’ marketing practices. “Most are working with affiliates, without holding any in-house marketing staff. That’s definitely not the way to go.”
A shift to crypto
Lagziel, an industry veteran and formerly the owner of the is currently a partner at the cryptocurrency trading platform provider Cryptency. He stated he will continue to be involved in the financial sphere. “We’re staying in the crypto and forex industries”, he noted. Cryptency in cooperation with Vista Brokers, a CySEC-regulated firm.
Established in 2011, O-SYSTEMS provided a B2B trading platform for FX and CFDs brokers with an emphasis on automation. The service helped brokers to better understand the identity and preferences of their clients, thus increasing revenue and cutting overall costs.
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