IG Group Holdings, which is a U.K. based financial services firm that facilitates trading in derivatives and offers online stockbroking services to retail investors, has announced the $1 billion acquisition of tastytrade.
tastytrade is also an online trading service focused around options and derivatives trading for retail investors. The company offers educational services to its 105,000 active users as well.
IG Group is attempting to take advantage of the increasing number of retail investors who have begun operating in the options market as online trading platforms have removed barriers to entry. It will also mean a significant expansion for IG Group into the United States, where its presence is currently limited.
The $1 billion price tag will be paid in $300 million in cash, and $700 million worth of IG Group shares.
Comments