Swiss private equity firm, Guru Capital announced on Thursday the closure of its acquisition of ETX Capital, a London-based financial spread-betting and contracts-for-difference provider.

ETX Capital was previously owned by UK-based JRJ Group, which in 2007 established a joint venture with the Dutch BXR Group, and owns stakes in several other financial services companies.

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As Finance Magnates reported earlier, the two companies agreed on the deal last May, but was waiting for the regulatory approval from the UK’s Financial Conduct Authority (FCA). Neither the companies disclosed the financials involved in the deal.

Operated by Monecor, ETX Capital is operating in the forex industry since 2002 and has aggressively focused on international expansion since 2010. It entered Germany and South Africa, before opening local offices in Greece, Spain, and Denmark.

With the acquisition, Guru is expanding its footprint in the spread betting and contracts-for-difference market. Indeed, this falls within the company’s plan to seek investment opportunities on active companies operating within the EMEA and APAC region.

Guru Capital provides advisory services to investment funds on strategic investment opportunities within the financial services industry.

Taking Control of the Board

In the latest announcement, Guru also revealed that its two partners, Luca Merolla and Ryan Nettles, have joined as non-executive directors to the ETX Capital board.

Earlier, Guru’s managing partner, Ryan Nettles, clarified that the new owner will retain the staff of ETX. After the acquisition, the London-headquartered brokerage onboarded Gergely Bacsó as its new chief technology officer with responsibilities of improving client experience and also further building TraderPro.