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Deutsche Boerse to buy majority stake in fintech Quantitative Brokers

·1-min read

FRANKFURT (Reuters) - Germany's Deutsche Boerse, on a mission to make acquisitions, said on Thursday that it would buy a majority stake in fintech Quantitative Brokers for an undisclosed sum.

The German stock exchange operator has a 2 billion euro war chest for acquisitions and is currently vying to buy Borsa Italiana.

Quantitative Brokers, which operates in New York, London, Sydney and Chennai, provides execution algorithms and analytics for futures, options and interest rate markets. It expects revenues of $25 million this year.

Acquisitions will play a "major role" in Deutsche Boerse's strategy update later this year, Theodor Weimer, the chief of the stock exchange operator, has told shareholders.

(Reporting by Tom Sims; editing by Thomas Seythal)