GAIN Capital Completes GFT Acquisition - $40 million in Cash Plus Extras
by
Adil Siddiqui
GAIN Capital has confirmed that it has completed the acquisition of GFT in one of the most exciting buyouts of the year. GAIN paid $40 million in cash, issued 3.6 million shares of GAIN Capital’s stock and a $33 million 5-year seller note.
After five months of anticipation, GAIN Capital has finally announced that it has completed its acquisition of GFT. The listed FX broker announced in a notification, that it had acquired the Multi-Asset broker for $40 million in cash, as well as shares of GAIN Capital and a five-year seller note.
In the official press release, CEO of GAIN Capital, Glenn Stevens stated, "This transaction is an important strategic step in solidifying our leadership position in the industry."
GAIN Capital, a leading global financial services firm has been gradually extending its global footprint through its expansion plan over the last decade. The latest acquisition highlights the firm's commitment to develop itself as a multi-asset broker, through the acquisition, GAIN will offer traders a substantial 12,500 financial instruments to trade from.
GAIN Capital paid $40 million in cash for GFT, in addition, GFT received approximately 3.6 million shares of GAIN Capital stock and a $33 million 5-year seller note, and in return GAIN received $73 million in cash at closing.
Metrics:
GAIN published its metrics (Pro forma - assuming that the deal closed on the 1st of January, 2013) for the first 6 months of 2013, these include GFT’s details:
Revenue of $190.0 million
GAIN Capital: $122.8 million; GFT: $67.2 million
Trading volume through June 30, 2013, $3.6 trillion
GAIN Capital: $2.8 trillion; GFT: $0.8 trillion
Retail OTC: $1.3 trillion
GAIN Capital: $899.1 billion; GFT: $391.3 billion
Institutional: $2.3 trillion
GAIN Capital: $1.9 trillion; GFT: $0.4 trillion
Client assets as of June 30, 2013, $683.8 million
GAIN Capital: $475.6 million; GFT: $208.2 million
GAIN Capital's share price is trading in the green, at 11.98.
“The acquisition of GFT will Yield numerous benefits for our clients, partners and shareholders," said Glenn Stevens, Chief Executive Officer of GAIN Capital. "The combined company boasts a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading technology. We intend to use GFT's broad product offering, innovative tools and educational capabilities to further strengthen our competitive position, while realizing significant synergies from combining the best of both organizations," Stevens concluded.
GAIN Capital informed its clients about the acquisition in an email notification, stating, "As we begin the integration process, it will be 'business as usual.' All aspects of your relationship with GAIN remain the same. There will be no change to the way you or your customers trade, your commercial terms, the GAIN group entity which is counterparty to your trading activity, or the level of service you receive. You will have access to the same team, and we will make every effort to ensure that your everyday interactions with us go smoothly."
After five months of anticipation, GAIN Capital has finally announced that it has completed its acquisition of GFT. The listed FX broker announced in a notification, that it had acquired the Multi-Asset broker for $40 million in cash, as well as shares of GAIN Capital and a five-year seller note.
In the official press release, CEO of GAIN Capital, Glenn Stevens stated, "This transaction is an important strategic step in solidifying our leadership position in the industry."
GAIN Capital, a leading global financial services firm has been gradually extending its global footprint through its expansion plan over the last decade. The latest acquisition highlights the firm's commitment to develop itself as a multi-asset broker, through the acquisition, GAIN will offer traders a substantial 12,500 financial instruments to trade from.
GAIN Capital paid $40 million in cash for GFT, in addition, GFT received approximately 3.6 million shares of GAIN Capital stock and a $33 million 5-year seller note, and in return GAIN received $73 million in cash at closing.
Metrics:
GAIN published its metrics (Pro forma - assuming that the deal closed on the 1st of January, 2013) for the first 6 months of 2013, these include GFT’s details:
Revenue of $190.0 million
GAIN Capital: $122.8 million; GFT: $67.2 million
Trading volume through June 30, 2013, $3.6 trillion
GAIN Capital: $2.8 trillion; GFT: $0.8 trillion
Retail OTC: $1.3 trillion
GAIN Capital: $899.1 billion; GFT: $391.3 billion
Institutional: $2.3 trillion
GAIN Capital: $1.9 trillion; GFT: $0.4 trillion
Client assets as of June 30, 2013, $683.8 million
GAIN Capital: $475.6 million; GFT: $208.2 million
GAIN Capital's share price is trading in the green, at 11.98.
“The acquisition of GFT will Yield numerous benefits for our clients, partners and shareholders," said Glenn Stevens, Chief Executive Officer of GAIN Capital. "The combined company boasts a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading technology. We intend to use GFT's broad product offering, innovative tools and educational capabilities to further strengthen our competitive position, while realizing significant synergies from combining the best of both organizations," Stevens concluded.
GAIN Capital informed its clients about the acquisition in an email notification, stating, "As we begin the integration process, it will be 'business as usual.' All aspects of your relationship with GAIN remain the same. There will be no change to the way you or your customers trade, your commercial terms, the GAIN group entity which is counterparty to your trading activity, or the level of service you receive. You will have access to the same team, and we will make every effort to ensure that your everyday interactions with us go smoothly."
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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