BGC Partners to Acquire Sunrise Brokers, Strengthening Equities Offering
- BGC Partners has set its sights on Sunrise Brokers Group, a brokerage specializing in equity derivatives.
BGC Partners, Inc. (NASDAQ: BGCP), a global brokerage company whose latitude extends to financial and real estate markets, has announced its latest Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term and 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 (M&A) activity, sowing up a deal that will see it acquire the businesses of Sunrise Brokers Group, an independent financial brokerage dealing with equity derivatives, according to a BGC Partners statement.
The acquisition is the first by BGC Partners in H2 2016, having gone through a relatively quiet fiscal year thus far. By acquiring Sunrise Brokers, BGC Partners is looking to expand its equity derivatives focus, which helps strengthen one of its core businesses.
Shaun D. Lynn, President, BGC Partners
Despite movements to finalize the acquisition details, no specific financials were disclosed at this time by either BGC Partners or Sunrise Brokers – the deal will be subject to customary legal and regulatory approvals. Sunrise Brokers has had a successful run as of late, generating revenues of upwards of $90 million in the financial year ending December 31, 2015.
According to Shaun D. Lynn, President, BGC Partners, in a recent statement on the deal: "This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business. As a recognized leader in its market segments, Sunrise Brokers is clearly a valuable addition to the BGC family of brands.”
BGC Partners, Inc. (NASDAQ: BGCP), a global brokerage company whose latitude extends to financial and real estate markets, has announced its latest Merger Merger A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d A merger is defined as the absorption of the interest of another. It can include an estate, or contract. There are no specific rules or formats for a union in general. It is a method of combining two or more organizations, business concerns, or other related interests. The terms of a merger are usually by agreement of the parties involved. In the financial sphere, merger refers to an agreement between two or more companies or corporations, public and private, to merge into one entity. Mergers d Read this Term and 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 (M&A) activity, sowing up a deal that will see it acquire the businesses of Sunrise Brokers Group, an independent financial brokerage dealing with equity derivatives, according to a BGC Partners statement.
The acquisition is the first by BGC Partners in H2 2016, having gone through a relatively quiet fiscal year thus far. By acquiring Sunrise Brokers, BGC Partners is looking to expand its equity derivatives focus, which helps strengthen one of its core businesses.
Shaun D. Lynn, President, BGC Partners
Despite movements to finalize the acquisition details, no specific financials were disclosed at this time by either BGC Partners or Sunrise Brokers – the deal will be subject to customary legal and regulatory approvals. Sunrise Brokers has had a successful run as of late, generating revenues of upwards of $90 million in the financial year ending December 31, 2015.
According to Shaun D. Lynn, President, BGC Partners, in a recent statement on the deal: "This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business. As a recognized leader in its market segments, Sunrise Brokers is clearly a valuable addition to the BGC family of brands.”