Add-on Acquisition • Financial Services

Lumon Acquires Abacus FX

On September 2, 2024, Lumon acquired financial services company Abacus FX

Acquisition Context
  • This is Lumon’s 2nd transaction in the Financial Services sector.
  • This is Lumon’s 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date September 2, 2024
Target Abacus FX
Sector Financial Services
Buyer(s) Lumon
Deal Type Add-on Acquisition

Target Company

Abacus FX

London, United Kingdom
Abacus FX is focused on corporate international payments and hedging for small enterprises and SMEs. Abacus FX was founded in 2018 and is based in London, United Kingdom.
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Buyer Overview 1

Buyer

Lumon

London, United Kingdom

Category Company
Founded 2000
Sector Financial Services
DESCRIPTION

Lumon is a provider of payment services, focused on facilitating international bank-to-bank transfers for private individuals. They originate customers through a diverse partner network, with the quality of their proposition to new and repeat business. Lumon was founded in 2000 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 2 of 2
Sector: Financial Services 2 of 2
Type: Add-on Acquisition 1 of 1
Country: United Kingdom 2 of 2
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-04 Earthport FX

London, United Kingdom

Earthport FX Ltd. offers corporate payment services to small and medium-sized businesses. The company helps businesses to manage their international transactions efficiently and take advantage of the limitless opportunities the world of global trade has to offer from its Central London base. It transacts over £10bn per annum through its dealing team and digital platform.

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