Leverate buys back its 25% stock held by Saxo Bank

24 December, AtoZForex.com, Lagos — Leverate is a premium broker solutions provider, dedicated to delivering a wide array of innovative solutions and services that enable Forex brokers and financial institutions to minimize risk and maximize profit. Just recently the company announced that Leverate buys back its 25% stock held by Saxo Bank.

In 2011, Saxo Bank acquired this 25% stake in Leverate, investing $12.5 million which aided in fast tracking a rapid growth for the firm. However, this marriage has been put to an end as the founders of Forex technology provider, Leverate, have reached an agreement to buy back the company shares from Saxo Bank.

This arrangement is expected to be mutually beneficial to both parties, evident from the official statements:

Chairman of the Board of Directors Doron Cohen, “This exchange is happening at a fortuitous time for both Saxo and Leverate. Saxo has decided to streamline their portfolio in order to refocus on core business objectives, and the founders of Leverate are interested in having more control over our company’s direction as we cultivate our brand globally.”

“We appreciate the opportunity for growth that we were afforded through Saxo’s investment.”

Bjørn Krog Andersen, Board Member of Leverate appointed by Saxo Bank, said: “We are grateful to have had Saxo as a partner, and we plan on maintaining our positive relationship going forward,” added CEO Ran Strauss. “We will continue to work with Saxo in an ongoing basis, both as a service provider and as a client.”

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