DMA acquires majority stake in Saxo Australia
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The news: South African software as a service (SaaS) company DMA has agreed to acquire a majority stake in investing platform Saxo Australia, as it launches its business in Australia.
The numbers: Subject to regulatory approvals, Johannesburg-headquartered DMA will assume 80.1% ownership of the Australian business, while Denmark-based Saxo Bank will retain a 19.9% equity stake. Saxo Australia will continue to leverage Saxo Bank’s platform and trading technology.
The context: The sale comes after Saxo Bank announced a review of strategic opportunities in the Asia-Pacific in June last year.
The new name and brand of the business will be established following a transitional period, until which it will continue to operate as Saxo Australia.
The business will also retain Saxo Australia’s staff, under the leadership of chief executive Adam Smith, while looking to bolster its Australia-based client service capacity.
Saxo Australia said that once launched, DMA’s proprietary SaaS will enable Australian institutional investors to connect front, middle and back-office functions under a single solution.
The transaction is expected to close in the second half of 2025.
What they said: “We believe DMA’s platform offering will bring tangible benefits to Australian financial advisors and wealth managers, while the business will continue to focus on delivering high-touch, high-quality service for self-directed retail clients,” DMA chief executive Richard North said.
Saxo Bank CEO and founder Kim Fournals said: “With this agreement with DMA, Saxo Bank leverages its core strength — providing a scalable and multi-asset trading infrastructure with our award-winning platforms”.
“We couldn’t be more pleased to partner with DMA as we seek to capitalise on the huge opportunity in the Australian market and fully leverage this win-win solution to get more curious people invested in Australia.”
The source: Saxo media release
