UK's IG Group to buy DailyFX from FXCM Inc for $40 million



Online trading company IG Group Holdings Plc said it had agreed to buy news and research portal DailyFX and its associated assets from U.S. retail broker FXCM Inc for $40 million.
IG Group said the deal, which is expected to close by the end of October, would add about 5 million pounds (4.63 million pounds) to ongoing operating costs annually and add to earnings from IG's 2018 financial year.
Upon completion, the DailyFX business along with its web domains, source code, content and 34 employees will be transferred to IG, FXCM said.
FXCM, which is the largest U.S. retail broker, with about... read more

 
30 September 2016 in Business, Views: 45
Source: Reuters
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