Based on the terms of the agreement, the transaction includes $40m cash, nearly 3.6 million shares of GAIN Capital stock and an about $33m five-year seller note. GAIN received approximately $73m of GFT cash at closing.
Commenting on the acquisition, GAIN Capital CEO Glenn Stevens said that the acquisition of GFT will yield numerous benefits for its clients, partners and shareholders.
"The combined company boasts a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading technology.
"We intend to use GFT’s broad product offering, innovative tools and educational capabilities to further strengthen our competitive position, while realizing significant synergies from combining the best of both organizations," Stevens added.
With presence in North America, Europe and the Asia Pacific regions, GAIN Capital trading technology offers market access and automated trade execution services across multiple asset classes to a diverse client base of retail and institutional investors.
