NAGA Group Completes Key Way Merger, Targets €9M in Annual Cost Savings

NAGA Group has successfully completed its merger with
Key Way Group, the parent company of CAPEX.com. This merger, which received all
necessary regulatory approvals within six weeks, aims to enhance NAGA’s global
footprint and drive cost efficiency, EQS News reported.

Expanding User Base

The merger has positioned NAGA Group as one of the
notable neo-brokers globally, with approximately 1.5 million users spanning
over 100 countries. The integration of CAPEX.com’s user base into NAGA’s
ecosystem is expected to introduce users to a range of features and services,
setting the NAGA SuperApp apart from competitors.

NAGA’s strategy includes leveraging common technology
across the entire group to streamline operations and reduce costs. The group
anticipates cost savings of up to EUR 9 million per year, a figure that had
previously been projected at USD 10 million. The immediate focus will be on
harnessing synergies in technology, regulatory processes, and customer
acquisition efforts.

Commenting on the merger, Octavian Patrascu, CEO of
The NAGA Group, expressed enthusiasm about the opportunities ahead. “I’m
thrilled about the successful merger and the new opportunities it brings. We’ve
executed this as planned, setting the stage to focus on synergies and drive
growth,” said Patrascu. He emphasized the importance of maintaining NAGA’s
innovative spirit while embracing the efficiencies of a more structured
organization.

User Migration to NAGA

The migration of CAPEX.com’s existing users to the
NAGA platform is scheduled to begin in the coming days. This transition will
provide CAPEX users with access to NAGA’s extensive offerings, including social
trading, neo-banking, and cryptocurrency trading, significantly enhancing the
user experience. The positive impact of these synergies is expected to
generate an EBITDA effect of around EUR 4 million annually.

Last month, the required regulatory approvals were granted for the merger of NAGA Group and CAPEX.com. The deal, involving
CAPEX.com, operated by Key Way Group, was initially announced in 2023. In April, the proposed transaction was approved by the
shareholders of the publicly listed NAGA. The approval came despite a notable
revenue decline, a net loss, and 40% staff cuts last year, the supervisory
board of the publicly listed NAGA Group AG (XETR: N4G).

NAGA’s revenues declined 32% from €57.6 million
announced in 2022 to €39.7 million in 2023. The financial results significantly
declined from those reported at the beginning of this year.

NAGA Group has successfully completed its merger with
Key Way Group, the parent company of CAPEX.com. This merger, which received all
necessary regulatory approvals within six weeks, aims to enhance NAGA’s global
footprint and drive cost efficiency, EQS News reported.

Expanding User Base

The merger has positioned NAGA Group as one of the
notable neo-brokers globally, with approximately 1.5 million users spanning
over 100 countries. The integration of CAPEX.com’s user base into NAGA’s
ecosystem is expected to introduce users to a range of features and services,
setting the NAGA SuperApp apart from competitors.

NAGA’s strategy includes leveraging common technology
across the entire group to streamline operations and reduce costs. The group
anticipates cost savings of up to EUR 9 million per year, a figure that had
previously been projected at USD 10 million. The immediate focus will be on
harnessing synergies in technology, regulatory processes, and customer
acquisition efforts.

Commenting on the merger, Octavian Patrascu, CEO of
The NAGA Group, expressed enthusiasm about the opportunities ahead. “I’m
thrilled about the successful merger and the new opportunities it brings. We’ve
executed this as planned, setting the stage to focus on synergies and drive
growth,” said Patrascu. He emphasized the importance of maintaining NAGA’s
innovative spirit while embracing the efficiencies of a more structured
organization.

User Migration to NAGA

The migration of CAPEX.com’s existing users to the
NAGA platform is scheduled to begin in the coming days. This transition will
provide CAPEX users with access to NAGA’s extensive offerings, including social
trading, neo-banking, and cryptocurrency trading, significantly enhancing the
user experience. The positive impact of these synergies is expected to
generate an EBITDA effect of around EUR 4 million annually.

Last month, the required regulatory approvals were granted for the merger of NAGA Group and CAPEX.com. The deal, involving
CAPEX.com, operated by Key Way Group, was initially announced in 2023. In April, the proposed transaction was approved by the
shareholders of the publicly listed NAGA. The approval came despite a notable
revenue decline, a net loss, and 40% staff cuts last year, the supervisory
board of the publicly listed NAGA Group AG (XETR: N4G).

NAGA’s revenues declined 32% from €57.6 million
announced in 2022 to €39.7 million in 2023. The financial results significantly
declined from those reported at the beginning of this year.

This post is originally published on FINANCEMAGNATES.

  • Related Posts

    All that Glitters Is Gold: Brokers Keep Cutting Spreads as Demand Surges

    1. All that Glitters Is Gold The next time your partner complains that you have too much jewellery, point them in the direction of gold CFD valuations. Having closed last…

    Trading Volume Surge Pushes Tiger Brokers’ Q1 Income to Record High

    Up Fintech (Nasdaq: TIGR), the operator of the Tiger Brokers brand, ended the first quarter of 2025 with total revenue of US$122.6 million and net income of US$36 million. While…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    XAU/USD: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    • May 30, 2025
    XAU/USD: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    WTI Crude Oil: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    • May 30, 2025
    WTI Crude Oil: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    All that Glitters Is Gold: Brokers Keep Cutting Spreads as Demand Surges

    • May 30, 2025
    All that Glitters Is Gold: Brokers Keep Cutting Spreads as Demand Surges

    USD/JPY: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    • May 30, 2025
    USD/JPY: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    Pound Corrects Slightly As Ruling Against Trump Tariffs On Hold. Forecast as of 30.05.2025

    • May 30, 2025
    Pound Corrects Slightly As Ruling Against Trump Tariffs On Hold. Forecast as of 30.05.2025

    GBP/USD: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25

    • May 30, 2025
    GBP/USD: Elliott Wave Analysis and Forecast for 30.05.25 – 06.06.25