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Updated details of FXCM/ODL acquisition unveiled

by Michael Greenberg
    Updated details of FXCM/ODL acquisition unveiled
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    Previously I reported that FXCM acquired ODL for only 3.5% of its shares, deal that was valued back then at $23.6 million. I hence deduced that FXCM's value was around $676 million pre-money.

    It seems that FXCM have updated these figures in their final pre-IPO filing.

    FXCM now state that ODL was acquired for $2.2 million and cash and %5.25 of FXCM valuing the deal at $54.9 million. This means that at the time of ODL's Acquisition FXCM valued itself at $1.003 billion. FXCM was valued $1.05 billion at the IPO after raising $210 million - that is $840 million before the money.

    Pretty neat deal for FXCM which received about $190 million in assets (including $163 million in client funds) even though it had to write off about £12.6 million in unrecoverable debt and inject $9.4 million to strengthen ODL's balance sheet.

    Previously I reported that FXCM acquired ODL for only 3.5% of its shares, deal that was valued back then at $23.6 million. I hence deduced that FXCM's value was around $676 million pre-money.

    It seems that FXCM have updated these figures in their final pre-IPO filing.

    FXCM now state that ODL was acquired for $2.2 million and cash and %5.25 of FXCM valuing the deal at $54.9 million. This means that at the time of ODL's Acquisition FXCM valued itself at $1.003 billion. FXCM was valued $1.05 billion at the IPO after raising $210 million - that is $840 million before the money.

    Pretty neat deal for FXCM which received about $190 million in assets (including $163 million in client funds) even though it had to write off about £12.6 million in unrecoverable debt and inject $9.4 million to strengthen ODL's balance sheet.

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