OFX acquires Canadian Corporate foreign exchange business

SYDNEY, AUSTRALIA: OFX Group Limited (ASX: OFX) has completed the acquisition of 100% of Firma Foreign Exchange Corporation (Firma) and most of its subsidiaries.

This is pursuant to the agreement announced on 20 December 2021 for OFX to acquire 100% of Firma for a total consideration of C$90m (A$98m).

Firma is a global foreign exchange service provider based in Edmonton, Canada, with specialist FX products and services for corporate clients. The acquisition provides OFX with greater scale in the corporate segment and North America region.

The acquisition of Firma Foreign Exchange Corporation (UK) Limited remains subject to approval by the Financial Conduct Authority. OFX will announce its full year results for the period ending 31 March 2022 on Tuesday 17 May 2022.

Founded in 1998, OFX Group is an international money services provider based in Sydney with eight offices across the world and more than 400 staff. It offers money transfers and foreign exchange services for consumer and business clients across 50+ currencies. Through its “digital + human” business model, OFX provides 24/7 client support to complement its global digital platform. www.ofx.com