CVC Capital announced on Monday that it will sell brokerage group OANDA to prop trading firm FTMO. The terms of the deal were not disclosed.

The private equity firm has owned OANDA since 2018. Given average holding times for private equity firms tend to be around the five-year mark, as well as prior announcements about CVC looking for a buyer, the odds are the company was looking for a quick disposal and to move on.

Nonetheless, the purchase marks a huge move for FTMO and for the development of the prop industry. The Czech firm has been looking to expand into the brokerage space for some time now and this purchase will obviously allow the company to do that.

Interestingly, FTMO said in a statement that it will keep OANDA as a standalone business, rather than integrating it under its own brand.

“The acquisition of OANDA is a key step in fulfilling our long-term vision,” said FTMO Co-Founders Otakar Suffner and Marek Vasicek. “We believe it will be highly beneficial for all relevant market participants, including the existing and prospective customers of both FTMO and OANDA.

“We are delighted to welcome OANDA’s existing management team, whose track record in complex, regulated markets, strong expertise in risk management and customer-centric philosophy fully complements FTMO’s own vision and strategy.”