BGC Partners (NASDAQ:BGCP), a global brokerage company servicing the financial and real estate market, has completed its acquisition of Sunrise Brokers Group, helping shore up its equities capabilities, per a company statement.
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BGC Partners had previously been pursuing an acquisition since July 2016 – Sunrise Brokers Group is an independent financial brokerage with a leading reputation in worldwide equity derivatives. The group was founded in 1991 and had on balance over $90 million of consolidated revenue for 2015.
The assimilation of Sunrise Brokers Group will help BGC Partners augment its equity derivatives offerings suite, which will also complement its existing financial services business. Terms of the acquisition were not disclosed.
The latest acquisition also caps what has been an active year for BGC Partners in the M&A space, as it previously completed a merger with GFI Group Inc. Following news of the acquisition, BGC Partners’ share prices (NASDAQ:BGCP) were trading up 2.1% during US trading Tuesday at the time of writing, settling at $10.19, just below a 52-week high of $10.33.