Azibo group acquires TorFx

Private investment company the Azibo Group, owners of Currencies Direct Limited a UK foreign exchange payment specialist, has completed the acquisition of Tor Currency Exchange Ltd (TorFx), another leading foreign exchange and international payment company.

Mayank B Patel, Group Chairman of the Azibo Group said: "I am delighted we have completed this transaction successfully. Although Currencies Direct and TorFx will continue operating as stand-alone businesses, the combination of the two will provide an additional platform for advancing Azibo's global growth strategy in this dynamic and exciting market. We have far-reaching plans for both companies and we are here for the long term to increase our footprint in the foreign exchange and international payment processing space".

Jonathan Beddell, Managing Director of TorFx added:
"My team and I have been working very closely with our counterparts from Currencies Direct to complete this transaction. We share the same vision for the future of the international payment space. I am delighted and proud to be part of the Azibo Group and I look forward to a dynamic growth strategy to consolidate this space."