- N2N Connect acquires AFE Solutions Ltd for US$11.5 million, strengthening its position as Asia’s largest one-stop financial services provider.
- The acquisition enhances trading services and market data solutions, integrating AFE’s intellectual property in data streaming and back-office systems.
- N2N Connect plans to expand its regional market reach, offering multi-exchange, multi-asset class trading solutions to clients across Asia.
Strategic acquisition enhances trading services
N2N Connect Bhd, one of Malaysia’s largest providers of online real-time trading platforms, has acquired Hong Kong-based AFE Solutions Ltd for US$11.5 million (RM50.6 million) in an all-cash deal. This acquisition enables N2N Connect to claim the title of Asia’s largest one-stop service provider in the financial investment industry. The company has been steadily expanding its presence in South Asia and the Middle East, while AFE Solutions has a strong market presence in Hong Kong, China, Macau, Vietnam, and Thailand.
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Synergies and market expansion
The acquisition of AFE Solutions, a 34-year-old financial data and trading solutions provider, significantly enhances N2N Connect’s capabilities. AFE’s intellectual property in data streaming and back-office systems complements N2N Connect’s trading services. The integration of both companies’ technologies allows N2N Connect to offer comprehensive solutions, connecting clients to multi-exchange asset classes and multi-currency settlements, thus strengthening its position in the regional financial market.
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Future growth and market leadership
With the acquisition, N2N Connect is set to expand its trading and information services segments, significantly increasing its installed trading and terminal bases by 200%. This growth also presents opportunities to upsell services to AFE’s existing client base, particularly in Hong Kong and China. According to Managing Director Andrew Tiang, the company’s vision is to establish Asia’s largest trading hub, offering direct access to multiple asset classes across multiple exchanges in various native languages.
