Key facts
- Ebury is in talks to acquire Lumon.
- Ebury is majority owned by Santander.
- Lumon is a foreign exchange firm.
- Lumon is owned by Pollen Street.
- The potential takeover is valued at over £100 million.
- The acquisition aims to accelerate Ebury's growth.
- Ebury is preparing for a possible initial public offering.
Santander-majority owned Ebury is reportedly in discussions to acquire Lumon, a foreign exchange firm, for a sum exceeding £100 million. Lumon is currently owned by Pollen Street. This potential acquisition is seen as a strategic move by Ebury to accelerate its growth trajectory. The company is reportedly eyeing an initial public offering (IPO) in the future, and the Lumon deal would bolster its market position and capabilities ahead of such a move. Ebury, which focuses on international payments and currency exchange for small and medium-sized businesses, would integrate Lumon's operations to expand its service offerings and customer base. The acquisition is expected to strengthen Ebury's presence in the competitive foreign exchange market. Further details regarding the terms of the potential deal and the timeline for its completion have not yet been disclosed. The move signals Ebury's ambition for significant expansion within the fintech and foreign exchange sectors.