Funding, M&A, exec moves and hiring — matched to your market, with the people to call.See plans →

Equals proposes acquisition of OFX for A$247m

PRIVATEJul 31, 2026•9 days ago

Acquiring Company

Equals

Acquired Company

OFX

New YorkSoftwareSaasSoftware

Description

OFX has agreed to a proposed acquisition by Equals’ private equity owners, valuing the company at A$247 million. This all-cash deal will take OFX private, with shareholders receiving A$1 per share. The agreement is pending due diligence and approvals from both companies. This acquisition represents a significant move for Equals as it strengthens its financial platform offerings.

Company Information

Company

Equals

Location

New York, United States

About

He doesn’t expect 10-employee Equals to be profitable for a while — the Series A proceeds will go mostly toward R&D, he says; Equals has raised $23 million to date — and the platform will remain gated behind a waitlist pending the next major product release. Co-founded by Ben McRedmond and Bobby Pinero, two former Intercom employees, Equals claims its spreadsheet is one of the few with built-in connections to databases, versioning and collaboration features. Equals isn’t the first startup on a mission to kill the traditional spreadsheet. But Pinero, Equal’s CEO, claims that Equals is unique in that it doesn’t so much replace the spreadsheet as incorporate additional tools, like live data integrations. Image Credits: EqualsSoon, Equals will be able to import scripts to allow users to connect spreadsheets to different APIs and internal tools with JavaScript or Python.

Related People

Choose your plan to reveal verified contacts

Predictive Intelligence

Strategic

ML-powered predictions for Equals's next move

Learn about Strategic plan

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

Frequently asked

Who acquired OFX?

OFX was acquired by Equals, based in New York. The deal was reported on July 31, 2026. Equals is privately held and operates in Software.

When did Equals acquire OFX?

Equals's acquisition of OFX was reported on July 31, 2026. OFX has agreed to a proposed acquisition by Equals’ private equity owners, valuing the company at A$247 million. This all-cash deal will take OFX private, with shareholders receiving A$1 per share. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does OFX do?

Founded in 1998, OFX is an international money services provider based in Sydney with eight offices across the world and more than 400 staff. It offers money transfers and foreign exchange services for consumer and business clients across 50+ currencies. It is privately held, operating in Software.