Rostro Financials Group announced on Monday the completion of its acquisition of retail forex and contracts for differences (CFDs) broker Scope Markets, leading to full control over the broker. Additionally, Monday’s announcement detailed that the Rostro Group management team assumed control over the combined business on 7 January.

Rostro Group Completes Scope Markets' Acquisition

The acquisition of Scope Markets by Rostro was finalized last year in February, following months of talks on the deal between the two companies. However, none of the parties disclosed the financial terms.

“We are delighted to have now completed the change of control process, bringing Scope Markets under the Rostro Group umbrella,” said the CEO of Rostro Group, Michael Ayres. “We will now be focused on leveraging the solid foundations that have been laid by an amazing team. We believe that our unique perspective and expertise will drive the company forward and bring even more value to our customers in the markets across the globe.”

Rostro now controls Scope’s main operation hub in Cyprus and other entities in Kenya, South Africa, and Belize. The larger group now controls Scope’s operations under the Mauritius and Seychelles licenses.

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Scope Markets Plans for Expansion in MENA and Asia

Scope has aggressively expanded its presence over the recent years around the globe. The brand is now evaluating opportunities for further expansion into MENA and the wider Asian regions.

Now, Rostro Group intends to continue its organic growth and is open to further acquisitions.

“The completed acquisition of Scope Markets presents another step in the journey of Rostro Group,” the Founder of Rostro Group, Roger Hambury, said.

“In the last 12 months, we have completed several acquisitions to drive our expansion, all funded through free cashflow. The acquisition of Scope Markets presents the largest and latest acquisition, signaling our intent to be a leading provider of financial services within our sector globally. The team and I are very excited about the future.”

Rostro has strengthened its leadership with aggressive hirings all around last year. Some key hirings include Andrew Richards as the Head of Prime Brokerage, Owen Purssell as the Head of Distribution, Mitesh Vaghela as the Head of Products, John Williams as the Chief Information Officer, and John Murphy as the Global Head of Retail Operations.