IG Group Proposes $1 Billion Acquisition of Tastytrade
- The broker announced to pay the total amount through $300 million in cash and $700 million worth of IG shares.
IG Group, a financial broker listed in London, announced the proposed Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of the US-based online broker and a trading education platform, Tastytrade in a $1 billion deal. The management team of Tastytrade will remain the same.
According to the official details, $300 million out of the total $1 billion will be paid in cash while the remaining $700 million will be offered in the form of 61 million IG shares. Subject to regulatory approvals, the proposed deal is expected to close in Q1 of IG’s financial year ending May 31, 2022.
Tastytrade has over 105,000 active trading accounts with headquarters in Chicago. Additionally, the company has nearly 900,000 unique registrations. IG Group aims to take advantage of the growing retail trading market in the US with the proposed acquisition. Moreover, IG termed the deal as a financially attractive acquisition. Jefferies Market Structure & Technology team facilitated the proposed acquisition. Jefferies advised several companies on sector-defining transactions including $44 billion deal between IHS Markit and S&P Global.
Commenting on the acquisition plan, June Felix, CEO of IG Group, said: “I am thrilled to welcome tastytrade to the IG Group family. This acquisition will materially expand and scale our business in the US and see us further diversify into the exciting high growth market of US retail options and futures, a market that is adjacent to IG’s core retail trading skill set. The US market has more than 1.5 million retail traders and is the largest derivatives market in the world. Tastytrade has grown impressively and proven itself to be an innovative market disrupter passionately committed to delivering for their clients.”
Tastytrade’s Growth
Tastytrade is a platform that provides financial education and trading services. The management team of the company previously created an online futures Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Thinkorswin which was acquired by TD Ameritrade in 2009. Tastytrade has grown significantly in the last few years due to growing demand from retail investors.
“Early on we knew Tastytrade was a very special company. While our long-term goal has always been to go global, we waited almost 10 years until we found the right partner and perfect match. Together we will focus on empowering the self-directed investor and change the way people perceive and engage with financial markets,” Tom Sosnoff, Co-founder of Tastytrade mentioned in a statement.
IG Group, a financial broker listed in London, announced the proposed Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of the US-based online broker and a trading education platform, Tastytrade in a $1 billion deal. The management team of Tastytrade will remain the same.
According to the official details, $300 million out of the total $1 billion will be paid in cash while the remaining $700 million will be offered in the form of 61 million IG shares. Subject to regulatory approvals, the proposed deal is expected to close in Q1 of IG’s financial year ending May 31, 2022.
Tastytrade has over 105,000 active trading accounts with headquarters in Chicago. Additionally, the company has nearly 900,000 unique registrations. IG Group aims to take advantage of the growing retail trading market in the US with the proposed acquisition. Moreover, IG termed the deal as a financially attractive acquisition. Jefferies Market Structure & Technology team facilitated the proposed acquisition. Jefferies advised several companies on sector-defining transactions including $44 billion deal between IHS Markit and S&P Global.
Commenting on the acquisition plan, June Felix, CEO of IG Group, said: “I am thrilled to welcome tastytrade to the IG Group family. This acquisition will materially expand and scale our business in the US and see us further diversify into the exciting high growth market of US retail options and futures, a market that is adjacent to IG’s core retail trading skill set. The US market has more than 1.5 million retail traders and is the largest derivatives market in the world. Tastytrade has grown impressively and proven itself to be an innovative market disrupter passionately committed to delivering for their clients.”
Tastytrade’s Growth
Tastytrade is a platform that provides financial education and trading services. The management team of the company previously created an online futures Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Thinkorswin which was acquired by TD Ameritrade in 2009. Tastytrade has grown significantly in the last few years due to growing demand from retail investors.
“Early on we knew Tastytrade was a very special company. While our long-term goal has always been to go global, we waited almost 10 years until we found the right partner and perfect match. Together we will focus on empowering the self-directed investor and change the way people perceive and engage with financial markets,” Tom Sosnoff, Co-founder of Tastytrade mentioned in a statement.