OANDA Corporation acquires GFM Solutions, boosts currency management software

OANDA Corporation has acquired GFM Solutions Group, a well-known risk management and financial reporting company.

GFM offers software that allows corporate finance teams to better manage the impact of currency-related exposure.

The purchase marks the first acquisition OANDA has made since being bought by CVC Capital Partners Asia Fund IV in May of this year and will build on OANDA’s existing corporate foreign exchange solutions.

Complements existing currency offering

OANDA president & CEO Vatsa Narasimha said: “OANDA’s data and analytics business is one of our key business divisions, already well established as the pre-eminent source of currency data for world-leading institutions and corporations.

“The acquisition of GFM complements our existing currency data offering by providing a comprehensive analytics solution that enables corporate clients to effectively manage their currency exposure.”

First acquisition of growth strategy

Since the change in ownership to CVC, OANDA has planned a series of strategic acquisitions over the next 18 months, with GFM being the first of these.

GFM managing partner Charles Brobst will join OANDA as managing director of its analytics division.

Brobst said of the agreement: “Trusted for accuracy and reliability by some of the world’s leading top audit firms, multinational corporations and tax authorities, OANDA’s currency data is widely regarded as the gold standard.

“It made perfect sense for the GFM team to join forces in order to help clients reduce currency exposure and mitigate risk.”

Software-as-a-service solutions

GFM’s suite of financial risk advisory software-as-a-service solutions include: exposure measurement and management; hedge accounting and financial reporting; financial instrument valuation; and regulatory compliance and risk management policy implementation.

These automated solutions ensure the ready-auditability of client data and processes and help reduce risk associated with key employees.

GFM’s software also helps improve organisation communication and transparency while reaming a means to monitor policy, accounting and regulatory compliance.

Story by ProactiveInvestors