DBOEF Deutsche Boerse Ag Namen Akt (PK)

By Hans Bentzien

Deutsche Boerse isn't currently seeking another large-scale transaction following the proposed takeover of Danish software provider Simcorp but doesn't rule out more modest acquisitions, according to Chief Executive Theodor Weimer.

Speaking at the International Club of Frankfurt Business Journalists, Weimer said the company didn't rule out transactions in the three-digit million euro range, and is interested in growing primarily in the investment management solutions area. The German exchange operator is also looking into entering the private equity business area, he said.

In April, Deutsche Boerse said it planned to offer more than $4 billion for Simcorp, a Danish company that sells software to asset managers, pension funds, central banks and other customers.

Another deal of this magnitude isn't likely for the next 18 months because Deutsche Boerse wants to reduce its debt now, Weimer said. He expects that to happen swiftly, however, since the company has a cash flow of more than EUR2.5 billion plus.

Andrea Figueras contributed to this article.

Write to Hans Bentzien at hans.bentzien@wsj.com

(END) Dow Jones Newswires

June 27, 2023 11:25 ET (15:25 GMT)

Deutsche Boerse Ag Namen... (PK) (USOTC:DBOEF)
Historical Stock Chart
From Oct 2024 to Nov 2024

Deutsche Boerse Ag Namen... (PK) (USOTC:DBOEF)
Historical Stock Chart
From Nov 2023 to Nov 2024