By Michael Susin
IG Group Holdings said it acquired U.K. investment platform Freetrade for 160 million pounds ($195.9 million) in cash.
The financial services group said Thursday that the deal would boost its offer in the U.K. and have a wider access to new customer segments and capabilities.
The deal is expected to be completed in the middle of 2025, subject to regulatory approvals.
IG said it would operate Freetrade as a commercially standalone business with its own brand, existing management team and operational platform.
"Freetrade is one of the most successful emerging players in the UK direct-to-customer investment market, with a strong brand, highly scalable technology and delivering rapid growth," Chief Executive Breon Corcoran said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
January 16, 2025 02:59 ET (07:59 GMT)
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