Euronext Securities expands services with acquisition of Acupay
02 October 2024 Netherlands
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Euronext has acquired “all the business” of Acupay Group, including Acupay Systems and Bondholder Communications Group (BondCom).
Founded in 2005, Acupay offers a suite of technology services which aim to provide relief from double taxation to cross-border investors.
Its proprietary solution, which links brokers and banks to securities issuers, enables custodian banks to electronically prepare tax certificates, and allows investors to effectively manage the impact of cross-border withholding tax.
The acquisition of Acupay further expands Euronext Securities’ services offering to investors and issuers, the firm says, leveraging Acupay’s presence in Italy and opportunities to scale services through Euronext Securities’ network across Europe.
In addition, Euronext hopes to strengthen its non-volume-related revenue streams through this move.
Stéphane Boujnah, CEO and chairman of the managing board of Euronext, says: “We are glad to welcome the Acupay team, whose expertise in financial reporting, cross-border tax relief and securities processing will contribute to further reinforcing Euronext Securities’ ability to serve issuers, custodians, brokers and investors across borders.”
The transaction will be fully financed with existing cash and will not impact Euronext’s deleveraging path, the firm says.
Robert Apfel, founder of Acupay, adds: “I’m very excited to see this new important milestone in the history of Acupay. This underlines once again the success of the solutions developed by the Acupay team that already fuelled its continued expansion.
“I’m glad to see Acupay joining Euronext, as I’m convinced that the collaboration with Euronext Securities will unlock new expansion opportunities.”
Euronext Securities is the central securities depository (CSD) network connecting European economies to global capital markets.
With CSDs in Copenhagen, Milan, Oslo, and Porto, Euronext Securities describes itself as one of the largest CSD operators in Europe.
Founded in 2005, Acupay offers a suite of technology services which aim to provide relief from double taxation to cross-border investors.
Its proprietary solution, which links brokers and banks to securities issuers, enables custodian banks to electronically prepare tax certificates, and allows investors to effectively manage the impact of cross-border withholding tax.
The acquisition of Acupay further expands Euronext Securities’ services offering to investors and issuers, the firm says, leveraging Acupay’s presence in Italy and opportunities to scale services through Euronext Securities’ network across Europe.
In addition, Euronext hopes to strengthen its non-volume-related revenue streams through this move.
Stéphane Boujnah, CEO and chairman of the managing board of Euronext, says: “We are glad to welcome the Acupay team, whose expertise in financial reporting, cross-border tax relief and securities processing will contribute to further reinforcing Euronext Securities’ ability to serve issuers, custodians, brokers and investors across borders.”
The transaction will be fully financed with existing cash and will not impact Euronext’s deleveraging path, the firm says.
Robert Apfel, founder of Acupay, adds: “I’m very excited to see this new important milestone in the history of Acupay. This underlines once again the success of the solutions developed by the Acupay team that already fuelled its continued expansion.
“I’m glad to see Acupay joining Euronext, as I’m convinced that the collaboration with Euronext Securities will unlock new expansion opportunities.”
Euronext Securities is the central securities depository (CSD) network connecting European economies to global capital markets.
With CSDs in Copenhagen, Milan, Oslo, and Porto, Euronext Securities describes itself as one of the largest CSD operators in Europe.
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