CBOE AUSTRALIA & CANADA acquired by TMX GROUP
Context
TMX Group Limited has announced the acquisition of Cboe Australia and Cboe Canada, two key players in the financial markets. This strategic acquisition is expected to bolster TMX Group's position in the global financial markets, extending its geographic presence and accelerating its growth strategy. The acquisition of Cboe Australia and Cboe Canada is also expected to enable TMX Group to diversify its activities and strengthen its ability to innovate and enhance the client experience. The two acquisitions are anticipated to bring a comprehensive range of services and solutions to investors and companies, while reducing costs and complexity. The acquisition process is currently underway, with regulatory approvals and closing conditions expected in the coming weeks.
CBOE AUSTRALIA & CANADA, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.4x).
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Target
Cboe Australia and Cboe Canada are key players in the financial markets landscape, offering equities trading venues, listing venues, and market data solutions. Cboe Australia is an innovative securities exchange providing companies with strategic tailored support for public market listings, including ETFs, structured products, and warrants, as well as a trading venue for brokers and investors. Cboe Canada includes MATCHNow, NEO-L, NEO-N, and NEO-D, as well as ETF, CDR, and corporate listings. These entities are poised to play a major role in the capital markets ecosystem, offering a comprehensive range of services and solutions to investors and companies.
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Historical Financials (USD)
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REFERENCES
Valuation range: EV 300M - 700M USD
Revenue range: 50M - 100M USD
EBITDA range: 10M - 30M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: cboe australia & canada
Acquirer: tmx group