Commercial foreign exchange and payment company, Monex Europe, has acquired Tempus in the UK and Spain from parent company Monex Group.
The acquisition will see Monex Group merge its FX business arms under the Monex Europe brand, recently formed when Monex acquired Schneider Foreign Exchange in a deal worth approximately $100 million, as it focuses on aggressive expansion throughout mainland Europe.
Through the acquisition of Tempus, all clients will be transferred to Monex Europe, while Tempus UK’s sales personnel will be integrated into the Monex Europe team at the European headquarters in London.
Managing director of Monex Europe, Nick Edgeley, says, “This acquisition is the latest step in our ambitious growth plans. With Monex Group’s backing we look forward to maintaining this momentum as we expand across Europe.”
Mizra Tabakovic, director at Tempus UK, adds, “We already have a close working relationship with Monex Europe and we are certain this will enhance our capabilities to better serve our clients. Our clients will now benefit from being part of one of the largest deliverable FX providers in the world, including increased buying power, access to greater liquidity and additional risk management tools.”