FCA-regulated Divisa Capital (Divisa UK Limited) has acquired Armenian financial services provider Laboratory of Financial Technologies, in an attempt to bolster an eastward growth.
The new company, which expected to be launched by the fourth quarter of 2015 as a wholly owned subsidiary of Divisa Capital, will be renamed Divisa AM CJSC following the acquisition.
The new firm will offer wholesale API and MT4 prime-of-prime solutions for institutional and professional clients.
Divisa Capital in a statement said that it intends to use the new subsidiary as a gateway into the Eurasian Economic Union (EEU), which includes Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia.
Divisa Capital CEO Mushegh Tovmasyan said: "Armenia has a very strong and highly regulated banking system, which includes the likes of HSBC and Credit Agricole, enabling the country to come through the recent global financial crises unscathed.
"What has really been an eye-opener is the level of interest shown by big names in the Eurasian Economic Union markets wishing to utilize our expertise and depth of liquidity deriving from our prime-of-prime offering."