OFX: Acquires Firma Foreign Exchange Corporation
- OFX announces that it has entered into an agreement to acquire 100% of Firma for a total consideration of C$90m (A$98m)
- Based in Edmonton, Canada, and founded in 1998, Firma is a global foreign exchange service provider servicing Corporate clients
- As of 30 September 2021, Firma had 194 employees, over 9,600 Corporate customers
- Firma’s key products include spot and market orders, multi-currency accounts, payments, and mass payments
- Firma generates strong earnings from a high-quality customer base and has an excellent service culture
- The acquisition will be funded by an underwritten debt facility and existing cash
