INFINOX Advances Admirals Acquisition Talks Amid Global Divestment

INFINOX and Admirals’ acquisition talks gain momentum as Admirals pushes ahead with global divestments amid weaker revenue and trading activity.

The representative said no transaction has been finalised and that any agreement would remain subject to definitive documentation, customary closing conditions, and regulatory approvals.

It remains unclear how much of Admirals’ business would be included in the acquisition.

According to Admirals’ 2025 annual report, the group operates eight licensed entities globally. Admirals hold licences in Estonia, the United Kingdom, Cyprus, Jordan, Kenya, and Seychelles, while its headquarters remain in Estonia. However, the company no longer onboards clients under its Jordan and Kenya licences.

INFINOX Advances Admirals Acquisition Talks Amid Global Divestment

The potential sale comes as Admirals continues to reduce its global footprint. At the end of 2024, PU Prime acquired Admirals’ Australian business. Admirals also sold operations in South Africa, Indonesia, and Ireland to a non-related party. In addition, the broker closed its licensed unit in Canada and surrendered its UAE licence.

A sale to INFINOX could form part of this broader divestment strategy.

At the end of 2025, Admirals’ majority shareholder held 27.37 per cent of the group directly and another 49 per cent through DVF Group. Dmitri Lauš also held 17.6 per cent through Laush.

Admirals’ net trading income fell 55 per cent year-on-year to €17.4 million in 2025 from €38.4 million in 2024. Active yearly clients dropped 32 per cent, while the total value of trades declined 47 per cent to €271 billion. Executed trades also fell 34 per cent to 23 million during the year.

Indices CFDs remained the group’s largest revenue driver, accounting for 46 per cent of gross trading income, up one percentage point year-on-year. Commodity CFDs followed at 27 per cent, up two points, while forex accounted for 23 per cent, down two points. The remaining 4 per cent came from other products, including stocks and ETFs.

If completed, the Admirals transaction would mark INFINOX’s second major acquisition after its purchase of Skilling last year.

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