comdirect bank AG acquires OnVista AG from Boursorama S.A.
- Growth acquisition: OnVista Bank GmbH and OnVista Media GmbH are to become part of comdirect Group
- Purchase strengthens position as leading German online broker in terms of numbers of trades and creates broader platform for financial information and marketing
Quickborn. comdirect bank AG today signed an agreement with Boursorama S.A. to acquire its entire shareholding in OnVista AG, domiciled in Frankfurt am Main, following the resolution of the Board of Managing Directors and the approval of the Supervisory Board. OnVista AG comprises an online broker, in the form of OnVista Bank GmbH, and the www.onvista.de finance portal, in the form of OnVista Media GmbH.
“The purchase of OnVista AG is a growth acquisition,” says Arno Walter, CEO of comdirect bank AG. “With OnVista Bank, we are strengthening our position as a market leader in the brokerage business in Germany in terms of trade figures, and are adhering to our strategy of being the first choice in saving, investing and trading in securities.” As of September 2016, OnVista Bank GmbH holds about €2.1bn in assets under management and has around 90 thousand trading-oriented customers, to whom it offers the full product range in securities trading.
OnVista AG also owns the www.onvista.de finance portal, which provides comprehensive financial information for active investors and traders, and is one of Germany’s leading finance portals. “onvista.de is an established brand when it comes to providing information on finance”, explains Arno Walter. “With OnVista Media and our existing products and services, we are creating an optimal platform for financial information, marketing and new customer acquisition. This will support our growth ambitions.” At present, the products and services offered by OnVista Bank are closely interlinked with those of OnVista Media: securities can be traded from onvista.de, for example.
The parties have agreed not to disclose the purchase price. The acquisition is still subject to the approval of the banking supervisory and antitrust authorities, and is expected to be completed in the first half of 2017.
“We are glad to join comdirect group. The two business models are an excellent fit, creating strong opportunities for OnVista and its clients in the future,” says Ralf Oetting, CEO of OnVista AG. OnVista AG is a subsidiary of the French company Boursorama S.A., the leading online bank in France wholly owned by Societe Generale Group.
The comdirect group, which also includes ebase GmbH as well as comdirect bank AG, has more than three million customers with total assets under custody of approximately €70bn. The company has around 1,300 employees.