Investing.com -- Britain’s Argentex Group announced on Friday that it has agreed to be acquired by IFX Payments. The deal values the currency risk management company at approximately 3 million pounds ($4 million). The announcement came just hours after Argentex Group replaced its CEO.

Argentex Group is a well-known player in the currency risk management industry, providing solutions to help businesses manage their foreign exchange risks. The acquisition by IFX Payments, a global payments provider, is expected to enhance the offerings of both companies.

The deal is subject to regulatory approval and customary closing conditions. Further details about the agreement have not been disclosed at this time.

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