Breaking: BUX in Exploratory Talks to Buy UK Subsidiary of ayondo

The parent company of trading app BUX, BUX Holding B.V. is in talks to acquire Ayondo Markets Ltd. The buyer, headquartered in Amsterdam is at present a tied agent and the largest client of the FCA-regulated subsidiary of Singapore-listed ayondo Ltd.
The companies signed a non-binding Head of Terms document earlier this month. A prospective acquisition by BUX will enable the company to rapidly expand its business around Europe. Last year, the firm announced that it is working on a zero-commission stock trading app, a market which remains unexplored and is poised to take off in the region.
Any prospective new ownership of ayondo Markets UK is not going to affect the operations of ayondo in Europe. The company will continue to deliver to European clients its social trading application. The company also plans to expand its services into Asia.

BUX and ayondo Cooperation
Any prospective deal will be subjected to a review by the UK Financial Conduct Authority (FCA) after the companies submit an application to the regulator.
While both companies will continue to focus on their core businesses, they intend to continue cooperating. If a transaction is to take place, the customers of ayondo registered with the UK subsidiary will continue to be serviced by the UK company. 
Commenting to Finance Magnates, the interim CEO of ayondo, Mark Street said: “Our primary strategic focus going forward is to concentrate on further development of our Social Trading business and to incorporate this into the multiple opportunities we see in Asia. We will continue to have a close working relationship with BUX, who we regard as an important long term business partner.”
BUX Expansion
“After the integration of ayondo UK’s technology and operations, we will be able to serve our customers even better and make it easier to introduce new features more quickly,” elaborated to Finance Magnates the CEO of BUX, Nick Bortot.
BUX has been around since 2014 when the company ventured into the trading industry with an innovative mobile app for trading forex and CFDs. The company recently announced its plans to launch a zero-commission stock trading app.
The company is headquartered in Amsterdam and is , Finch Capital, and Initial Capital. The company also raised over €1.4 million on Seedrs.
The firm’s move to acquire a UK company solidifies the presence of the broker in the UK market, where since its early days.