Like Soleil Securities Corporation

closed 5/31/2011 via PR Newswire

Ticonderoga Securities, LLC., acquired Soleil Securities Corporation

synopsis: Ticonderoga Securities LLC announced that it has completed its acquisition of Soleil Securities Corporation, an institutional research, sales and trading firm that provides a wide array of services to the asset management community.
buyer: Ticonderoga Securities, LLC.
Ticonderoga Securities specializes in US domestic equity trading, equity research, equity derivative execution and research, international market making and risk arbitrage. "
target: Soleil Securities Corporation
Soleil Securities Corporation is an institutional research, sales and trading firm that provides a wide array of services to the asset management community. Soleil provides equity research on over 200 stocks and also provides macro-economic and Washington policy research.
price ($mm)
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announced 5/10/2016 via BusinessWire

Leucadia National Corp, will acquire Majestic Research, LLC

synopsis: Leucadia National Corporation announced that it has entered into a definitive agreement to acquire ITG Investment Research, LLC (formerly known as Majestic Research) from Investment Technology Group (“ITG”). ITG Investment Research is a leading provider of big data analytics and research to institutional, corporate, and private equity clients.
buyer: Leucadia National Corp (LUK:$10,512.84)
Leucadia National Corporation is a financial services holding company principally engaged in providing commercial and personal property and casualty insurance, banking and lending services; manufacture of plastic netting; own and operate gold mines; provide real estate investment trust services. "
target parent: Investment Technology Group, Inc.
target: Majestic Research, LLC
Since its inception in 2002, Majestic Research has revolutionized the financial research business with their innovative proprietary methods and tools for accessing real-time data.
price ($mm)
rev ($mm)
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closed 10/25/2010 via PR Newswire

Investment Technology Group, Inc., acquired Majestic Research, LLC

synopsis: Investment Technology Group, Inc., a leading agency broker and financial technology firm, announced that it has acquired Majestic Research Corp., an independent provider of data-driven equity research for the institutional investment community. Going forward, Majestic will be known as ITG Investment Research.
buyer: Investment Technology Group, Inc. (ITG:$505.52)
Investment Technology Group, Inc.(ITG), is an independent agency research broker that partners with asset managers globally to improve performance throughout the investment process. ITG is a leader in electronic trading since launching the POSIT® crossing network in 1987. "
target: Majestic Research, LLC
Since its inception in 2002, Majestic Research has revolutionized the financial research business with our innovative proprietary methods and tools for accessing real-time data.
price ($mm)
$53
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/4/2011 via Market Wire

Sabrient Systems, LLC, purchased Qualitative Research Unit from Gradient Analytics

synopsis: Sabrient Systems announces the acquisition of selected assets of Gradient Analytics, including the use of the brand "Gradient Analytics." The business unit acquired by Sabrient will deliver analyst-driven research and services via Earnings Quality Analytics, Equity Incentive Analytics, Gradient International and Gradient Consulting.
buyer: Sabrient Systems, LLC
Sabrient Systems, LLC is an independent equity research firm that specializes in custom strategies using quantitative modeling to rank stocks for Alpha generation, risk measurement and creation of unique indexes tracked by exchange-traded funds (ETFs). "
seller: Gradient Analytics
Gradient Analytics, Inc. is an independent research firm providing analyst-written research work on Global Equities (Earnings Quality Analytics, Equity Incentive Analytics and Gradient International) and Consulting services for institutional clients.
price ($mm)
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closed 3/31/2010 via PR Newswire

Morningstar, Inc., acquired Aegis Equities Research

synopsis: Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc., has completed its previously announced acquisition of Aegis Equities Research, a leading provider of independent equity research, from Aegis Equities Holdings Pty Ltd.
buyer: Morningstar, Inc. (MORN:$1,109.30)
Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, and commodities, in addition to foreign exchange and Treasury markets. "
target: Aegis Equities Research
Aegis is one of Australia’s leading research firms, providing incisive and rigorous securities analysis to investment advisers throughout Australia and New Zealand. Established in 1999, Aegis was founded to provide unbiased and objective fundamental equities research to the Australasian market.
price ($mm)
$11
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/27/2017 via PR Newswire

Genstar Capital LLC, acquired Institutional Shareholder Services

synopsis: Institutional Shareholder Services Inc., a leading provider of corporate governance and responsible investment solutions to financial market participants, announced that Genstar Capital has completed the acquisition of ISS from Vestar Capital Partners, a leading U.S. middle-market private equity firm.
buyer: Genstar Capital LLC
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for nearly 30 years. Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. "
target parent: Vestar Capital Partners
target: Institutional Shareholder Services
Institutional Shareholder Services Inc. (ISS) is the world’s leading provider of corporate governance and responsible investment (RI) solutions for asset owners, asset managers, hedge funds, and asset service providers.
price ($mm)
$720
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/30/2014 via BusinessWire

Vestar Capital Partners, acquired Institutional Shareholder Services

synopsis: Institutional Shareholder Services Inc. ("ISS"), a leading provider of corporate governance solutions to the global financial community, has been acquired by Vestar Capital Partners. ISS provides proxy research, voting services and corporate governance advisory services to financial institutions and corporations worldwide.
buyer: Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value. "
target parent: MSCI Inc.
target: Institutional Shareholder Services
Institutional Shareholder Services ("ISS") is the world's leading provider of corporate governance and proxy voting solutions. ISS provides proxy research, voting services and corporate governance advisory services to financial institutions and corporations worldwide.
price ($mm)
$367
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/19/2011 via GlobeNewswire

The NASDAQ OMX Group, Inc., acquired RapiData LLC

synopsis: The NASDAQ OMX Group, Inc. has acquired the business of RapiData, a provider of machine-readable economic news to trading firms and financial institutions. With this acquisition, NASDAQ OMX will deliver U.S. government and other economic news directly from the source to customers interested in receiving information in an electronic feed.
buyer: The NASDAQ OMX Group, Inc. (NasdaqGS:NDAQ:$4,199.00)
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,500 listed companies. "
target parent: Investcorp
target: RapiData LLC
RapiData LLC is a premier provider of key economic data to today's most sophisticated and time-sensitive market participants. Unlike its competitors, RapiData is a boutique firm with one product - RapiData, and it is focused on staying cutting-edge in order to maintain an edge for its clients.
price ($mm)
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cancelled 11/9/2010 via BNC Analysis

Kensington Leasing, Ltd., cancelled an acquisition of WealthMakers, Ltd.

synopsis: Kensington Leasing, Ltd. cancelled the acquisition of Wealthmakers Ltd.
buyer: Kensington Leasing, Ltd. (KNSL:$0.00)
Kensington Leasing, Ltd. is a development stage company and intends to lease specialized computer equipment and provide support services for professionals. The company was incorporated in 2008 and is based in Redlands, California. "
target: WealthMakers, Ltd.
WealthMakers is a web-based predictive research technology company that connects to automated trading platforms for stocks, indexes, bonds, options, commodities and currencies and can trade in up to 80 markets around the world in a single universal account provided by a leading online broker.
price ($mm)
$16
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/9/2010 via Company Press Release

Euromoney Institutional Investor PLC, will acquire Arete Consulting, Ltd.

synopsis: Euromoney Institutional Investor PLC, the international publishing, events and electronic information group, has agreed to acquire Arete Consulting Limited, the world’s leading database of retail structured investment products. The acquisition is in line with Euromoney’s strategy of investing in high-growth online subscription data businesses.
buyer parent: Daily Mail and General Trust plc
buyer: Euromoney Institutional Investor PLC (LSE:ERM:$328.89)
Euromoney Institutional Investor PLC is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 titles, including Euromoney, Institutional Investor, and Metal Bulletin. "
target: Arete Consulting, Ltd.
Arete Consulting is a specialist firm providing consultancy and training services to large multinational financial service companies. Arete Consulting also owns and runs the website StructuredRetailProducts.com, the leading online information source for the structured products market.
price ($mm)
$9.79
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/11/2007 via BusinessWire

RiskMetrics Group, Inc., acquired Institutional Shareholder Services

synopsis: RiskMetrics Group, the leading financial risk management firm, has completed its acquisition of Institutional Shareholder Services Inc.. ISS is the world’s leading provider of corporate governance and proxy voting solutions to the institutional investor community. Financial terms of the deal were not disclosed.
buyer parent: Spectrum Equity Investors
buyer: RiskMetrics Group, Inc.
RiskMetrics provides expertise to the financial community through a broad range of research, analytics, data and other products and services. Formerly a division of JP Morgan, RiskMetrics Group became an independent company in 1998. "
target: Institutional Shareholder Services
ISS is the world's leading provider of corporate governance and proxy voting solutions. ISS provides proxy research, voting services and corporate governance advisory services to financial institutions and corporations worldwide.
price ($mm)
$553
rev ($mm)
$105
EBITDA ($mm)
$29
EV / rev
5.3x
EV / EBITDA
19.1x
closed 11/1/2019 via BusinessWire

Morgan Group Holding Co., acquired G.research, LLC

synopsis: Morgan Group Holding Co. announced the completion of its acquisition of G.research, LLC, a wholly owned subsidiary of Associated Capital Group. G.Research is an institutional research and brokerage firm. They publish on approximately 250 companies globally with an emphasis on small & mid-cap ideas.
buyer: Morgan Group Holding Co. (OTCPK:MGHL:$0.00)
Morgan Group Holding Company is a publicly traded fully reporting holding company with no operating businesses. They are actively pursuing business opportunities primarily in, but not limited to, the US manufacturing sector with EBITDA of $5-$20 million. "
target parent: Associated Capital Group
target: G.research, LLC
G.Research is an institutional research and brokerage firm. They publish on approximately 250 companies globally with an emphasis on small & mid-cap ideas.
price ($mm)
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closed 5/13/2019 via BusinessWire

Liquidnet, Inc., acquired RSRCHXchange

synopsis: Liquidnet announced that it has acquired RSRCHXchange, a leading marketplace and aggregator for institutional research. RSRCHXchange’s research marketplace and distribution network digitizes massive amounts of content and provides a centralized, cloud-based hub that allows providers to deliver research, and asset managers to efficiently source it.
buyer: Liquidnet, Inc.
Liquidnet is a technology-driven, global institutional investment network. Liquidnet's network spans 46 markets across six continents and connects institutional brokers, investment banks, exchanges, alternative trading venues, and data and research providers. "
target: RSRCHXchange
RSRCHXchange is the award-winning marketplace and aggregator for institutional research. The RSRCHX platform enables asset management firms to read, purchase and monitor research and analyst interactions from banks, brokers & boutique providers in a more efficient and transparent way.
price ($mm)
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announced 12/15/2014 via PR Newswire

Trading Central SA, will acquire Recognia

synopsis: Trading Central, a global leader in technical analysis research, announced it has entered into a definitive agreement to acquire Recognia Inc., a global leader in automated quantitative analysis and engagement solutions. The transaction enables Recognia and Trading Central to create a global leader in technical and quantitative analysis solutions.
buyer: Trading Central SA
Trading Central is a leading investment research provider to financial market professionals. Their technical strategies cover equity, index, fixed-income, forex and commodities markets. "
target: Recognia
Recognia is a global leader in automated quantitative analysis and engagement solutions for retail online brokers and institutions and their 20+ million investors and traders. Recognia’s product suite increases user engagement by offering dynamic and action-oriented trading ideas.
price ($mm)
rev ($mm)
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announced 9/14/2016 via BNC Analysis

IRESS Market Technology Limited, will acquire INET BFA

synopsis: IRESS, a principal supplier of sophisticated share market and wealth management systems, is acquiring INET BFA, Africa’s leading provider of financial data feeds and analysis tools. They cover African and global share prices, as well as company information including annual reports, financial statements and more.
buyer: IRESS Market Technology Limited (ASX:IRE:$324.32)
IRESS is a principal supplier of sophisticated share market and wealth management systems around the world. Innovative and extensive, IRESS solutions deliver streamlined data and workflow to financial markets and wealth management professionals. "
target parent: Naspers Ltd.
target: INET BFA
INET BFA is Africa’s leading provider of financial data feeds and analysis tools. They cover African and global share prices, as well as company information including annual reports, financial statements and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
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closed 5/4/2015 via PE Hub

Asset International, Inc., acquired Intelligent Financial Systems

synopsis: Asset International, Inc., a leading provider of data, information and marketing solutions to the global asset management industry, has acquired Intelligent Financial Systems, a London-based provider of financial market data research and trade execution quality analysis to banks, brokers, asset managers and trading venues.
buyer parent: Genstar Capital LLC
buyer: Asset International, Inc.
Asset International (AI) provides critical data, business intelligence, and information services to the global investment management industry. AI delivers proprietary data and analytics, as well as marketing solutions that target global asset managers. "
target: Intelligent Financial Systems
Intelligent Financial Systems is a London based software company providing a range of real time and historical market data analysis services. They offer a suite of services focused on analysing execution quality, transaction costs analysis and pre-trade cost prediction for Europe’s equity markets.
price ($mm)
rev ($mm)
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closed 9/30/2014 via PR Newswire

Leeds Equity Partners, acquired Covenant Review

synopsis: Leeds Equity Partners, LLC, announced that it has made an equity investment in Covenant Review, LLC. Covenant Review provides institutional investors and other bond and loan market participants with unparalleled understanding of the legal documentation governing their securities investments.
buyer: Leeds Equity Partners
Leeds Equity Partners is a private equity firm focused on investments in the education, training and information and business services industries (the "Knowledge Industries"). Leeds Equity has deployed over $2.6 billion of capital in investments across the knowledge sector spectrum. "
target: Covenant Review
Covenant Review, LLC conducts research on corporate bond covenants. It maintains a proprietary database of research reports on bond covenants. The company caters to mutual funds, insurance companies, pension funds, hedge funds, and institutional asset managers.
price ($mm)
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closed 9/23/2013 via BusinessWire

FXCM Inc., acquired Faros Trading LLC

synopsis: FXCM Inc., a leading online provider of foreign exchange, or FX, trading and related services worldwide, announced that it has acquired a 50.1% controlling interest in Faros Trading LLC. Faros Trading is a global leader in foreign exchange intelligence, market coverage, and execution services to the institutional foreign exchange market.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: Faros Trading LLC
Faros Trading is the global leader in foreign exchange intelligence, market coverage, and execution services. Their clients are hedge funds, real money investors, reserve managers, corporations, and family offices.
price ($mm)
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announced 9/30/2016 via Reuters

IG Group Holdings Plc, will acquire DailyFX.com

synopsis: IG Group, an online trading company, said it had agreed to buy news and research portal DailyFX and its associated assets from FXCM Inc, a U.S. retail broker. Upon completion, the DailyFX business along with its web domains, source code, content and 34 employees will be transferred to IG Group. The deal is expected to close by the end of October.
buyer: IG Group Holdings Plc (LSE:IGG:$625.12)
IG Group Holdings plc is a world leader in financial derivatives trading and sports betting. They are the parent company of IG Index - the UK's largest and longest-running spread betting business – and offer sports and financial products to retail and professional clients. "
target parent: FXCM Inc.
target: DailyFX.com
DailyFX.com, the free news and research website of FXCM, is one of the world's leading news sources for the currency trading community. DailyFX provides analysis of market moves, explaining economic, political, and technical factors driving the market.
price ($mm)
$36
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 6/20/2016 via BusinessWire

Markit Group Ltd., will acquire Prism Valuation

synopsis: Markit, a leading global provider of financial information services, announced that it has agreed to acquire Prism Valuation a leading provider of independent valuation and risk analysis of derivatives and structured products.
buyer: Markit Group Ltd. (MRKT:$1,129.70)
Markit is a leading global provider of financial information services. They provide products that enhance transparency, reduce risk and improve operational efficiency. Their customers include banks, hedge funds, asset managers, central banks, regulators, auditors and insurance companies. "
target: Prism Valuation
Prism Valuation Corp. is a leading provider of independent valuations and risk analysis services for OTC derivatives and structured products to financial institutions. Founded in 2006, Prism Valuation is headquartered in Toronto with 38 employees and offices in London and Melbourne.
price ($mm)
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closed 5/31/2011 via PR Newswire

Ticonderoga Securities, LLC., acquired Soleil Securities Corporation

synopsis: Ticonderoga Securities LLC announced that it has completed its acquisition of Soleil Securities Corporation, an institutional research, sales and trading firm that provides a wide array of services to the asset management community.
buyer: Ticonderoga Securities, LLC.
Ticonderoga Securities specializes in US domestic equity trading, equity research, equity derivative execution and research, international market making and risk arbitrage. "
target: Soleil Securities Corporation
Soleil Securities Corporation is an institutional research, sales and trading firm that provides a wide array of services to the asset management community. Soleil provides equity research on over 200 stocks and also provides macro-economic and Washington policy research.
price ($mm)
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closed 5/31/2011 via PR Newswire

Ticonderoga Securities, LLC., acquired Soleil Securities Corporation

synopsis: Ticonderoga Securities LLC announced that it has completed its acquisition of Soleil Securities Corporation, an institutional research, sales and trading firm that provides a wide array of services to the asset management community.
buyer: Ticonderoga Securities, LLC.
Ticonderoga Securities specializes in US domestic equity trading, equity research, equity derivative execution and research, international market making and risk arbitrage. "
target: Soleil Securities Corporation
Soleil Securities Corporation is an institutional research, sales and trading firm that provides a wide array of services to the asset management community. Soleil provides equity research on over 200 stocks and also provides macro-economic and Washington policy research.
price ($mm)
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closed 10/1/2010 via BNC Analysis

FXCM Inc., acquired ODL Securities

synopsis: ODL Group Limited (“ODL”), a leading, independent forex, derivatives, equities and commodities broker, has been acquired by US-based FXCM Holdings LLC (“FXCM”), a leading global forex broker that caters to both retail and institutional markets.
buyer: FXCM Inc. (GLBR:$417.32)
FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. "
target: ODL Securities
ODL Securities Limited (ODLS) commenced trading early in 1995. Initially it specialised in derivatives and equities but recently has seen significant growth in foreign exchange, equity CFDs, Corporate and Government bond trading and other over-the-counter (OTC) products.
price ($mm)
$55
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/20/2019 via BNC Analysis

Lynx Vermogensbeheer BV, acquired TradersOnly BV

synopsis: LYNX, a Dutch specialist in online investing, has acquired TradersOnly, the number 1 online broker for active investors in the Netherlands. TradersOnly's advanced trading platform provides investors with real-time prices and relevant information. TradeOnly allows users to easily trade shares in 19 different countries and 63 different exchanges.
buyer: Lynx Vermogensbeheer BV
LYNX is a Dutch specialist in online investing. LYNX provides investors with access to more than 100 exchanges in 20 countries through its user-friendly trading platform. The company was founded in 2006 and has been active on the Dutch market since 2007. "
target: TradersOnly BV
TradersOnly is the number 1 online broker for active investors in the Netherlands. TradersOnly's advanced trading platform provides investors with real-time prices and relevant information. TradeOnly allows users to easily trade shares in 19 different countries and 63 different exchanges.
price ($mm)
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closed 3/28/2018 via Company Press Release

Mohamed Radwan & Omar Radwan, acquired Arab Finance Brokerage Company

synopsis: Arab Finance Brokerage Co. announced a group of investors finalized the acquisition of 100% of Arab Finance. Among the new shareholders, were market experts Mohamed Radwan, Ex-Board member In Pharos Securities and Omar Radwan. Arab Finance is one of the most prestigious and well-known news websites in the financial sector.
buyer: Mohamed Radwan & Omar Radwan
Mohamed Radwan is the Ex-Board member In Pharos Securities and Omar Radwan is the former Head of Asset Management in HC Securities & Investment. "
target: Arab Finance Brokerage Company
Arab Finance is one of the most prestigious and well-known news websites in the financial sector. Arab Finance has one of the oldest news portal covering the Egyptian EGX and macroeconomic news. In addition, Arab Finance also provides its services as a brokerage house specialized in online trading.
price ($mm)
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closed 6/1/2016 via PR Newswire

Ally, acquired TradeKing

synopsis: Ally Financial Inc., one of the world's largest automotive financial services companies, announced that it has acquired TradeKing Group, Inc., a digital wealth management company. TradeKing Group, Inc. provides online brokerage services for independent self-directed investors in the United States.
buyer: Ally (ALLY:$6,494.00)
Ally Financial Inc. is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. "
target: TradeKing
TradeKing Group, Inc. provides online brokerage services for independent self-directed investors in the United States. It offers online trading services in the areas of options, stocks, exchange traded funds, mutual funds, fixed incomes, and foreign exchange funds.
price ($mm)
$275
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/18/2015 via BusinessWire

TradeKing, acquired MB Trading Holdings, LLC

synopsis: TradeKing Group, Inc., an innovator in online brokerage, today announced that its acquisition of MB Trading has officially closed. With the addition of MB Trading’s renowned trading platform, TradeKing now offers a powerful, active trading experience for the most seasoned traders.
buyer: TradeKing
TradeKing Group, Inc. provides online brokerage services for independent self-directed investors in the United States. It offers online trading services in the areas of options, stocks, exchange traded funds, mutual funds, fixed incomes, and foreign exchange funds. "
target: MB Trading Holdings, LLC
MB Trading is a direct access brokerage firm that develops and markets direct access trading technology to online investors, institutions, and qualified destinations. Using a proprietary order routing system, the company allows investors to trade directly to the NASDAQ, NYSE and AMEX markets.
price ($mm)
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closed 1/10/2008 via Burlington Free Press

Banks.com, Inc., acquired OnLine Investments, Inc.

synopsis: Banks.com, Inc. a leading financial services focused web property, announced the acquisition of certain assets of Online Investments, Inc., including MyStockFund.com, MyStockFundKids.com and an online broker/dealer with a wide array of products, tools, and services.
buyer: Banks.com, Inc. (BNX:$0.00)
Banks.com is a leading Financial Services portal containing a unique breadth and depth of products and services. Our mission is to bring our users and subscribers the most relevant financial information on the web. "
target: OnLine Investments, Inc.
MyStockFund Securities, Inc., member FINRA/SIPC, is the broker-dealer offering the unique securities trading platform. OnLine Investments, Inc. the parent of MyStockFund Securities, Inc. has developed the technology to enable convenient and cost-effective Internet-based investment.
price ($mm)
$1.10
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 2/8/2012 via PR Newswire

Alternative Investment Partners, will acquire GO Markets Pty Limited

synopsis: The Board of AIP Global Holdings Limited is pleased to announce that the Company has entered into an agreement with My First Investments Limited to acquire a controlling interest in Australian-based GO Markets Pty Limited, a leading online financial services business headquartered in Melbourne, Australia.
buyer: Alternative Investment Partners
Established in 2002, Alternative Investment Partners is a full-service global investment banking and securities firm headquartered in Tokyo, Japan, offering fund distribution services and a wide range of sophisticated, value-added investment banking services. "
target: GO Markets Pty Limited
GO Markets is a multi award-winning Australian registered company providing online-based financial services to an extensive client base in Australia and overseas. It offers regulated financial services including Margin FX, Securities and Derivatives.
price ($mm)
rev ($mm)
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closed 10/13/2011 via BusinessWire

FXCM Inc., acquired Foreland Forex Co., Ltd.

synopsis: FXCM Inc., a leading online provider of foreign exchange, ("FX"), trading and related services worldwide, announced that its subsidiary FXCM Japan Securities Co., Ltd. has completed its acquisition of Japanese FX broker Foreland Forex Co., Ltd.
buyer: FXCM Inc. (GLBR:$417.32)
Forex Capital Markets LLC is one of the Largest Forex Dealer Members. More than 125,000 live accounts are traded on FXCM trading platforms. As of January 2009, an average of $500 billion in notional volume is traded each month on FXCM trading platform. "
target: Foreland Forex Co., Ltd.
Foreland Forex Co., Ltd. offers retail foreign exchange services. The company was founded in 2001 and is based in Tokyo, Japan.
price ($mm)
$17
rev ($mm)
EBITDA ($mm)
$9
EV / rev
EV / EBITDA
2.0x
closed 9/21/2011 via PR Newswire

FXDD, acquired Frontier FX

synopsis: FXDD Europe, a leader in online Forex trading and education, announced it has acquired the business of Dublin based Frontier FX, a leading international Forex broker. Frontier FX provides a multi-bank electronic trading platform for Spot and Forward foreign exchange services with a primary focus on professional traders.
buyer: FXDD
FXDD is a leader in online Forex trading and education, dedicated to providing superior customer service, powerful trading technology, and reliable streaming liquidity. It provides services to individual and institutional traders, hedge funds, commercial entities, brokerage firms and money managers "
target: Frontier FX
Frontier FX provides a multi-bank electronic trading platform for Spot and Forward foreign exchange services with a primary focus on professional traders. The company offers such services to banks, fund managers, hedge funds and CTA's enabling them to trade the global FX market.
price ($mm)
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announced 5/28/2008 via Company Press Release

Saxo Bank, will acquire Cambiste

synopsis: Danish online investment bank Saxo is acquiring Cambiste, a French provider of Web-based foreign exchange trading services, for an undisclosed sum.
buyer: Saxo Bank
Saxo Bank A/S is a global investment bank specialising in online investments in international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFDs, futures, options and other derivatives, as well as providing portfolio management via our online trading platform, SaxoTrader. "
target: Cambiste
Cambiste is the only forex broker fully regulated by Banque de France. The company was launched by Pierre-Antoine Dusoulier who wanted to offer an in-shore currency trading solution, compliant with french regulation. Cambiste has quickly attracted a large number of active currency traders.
price ($mm)
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announced 5/30/2007 via BusinessWire

eSpeed, Inc. will be merged with BGC Partners L.P.,

synopsis: eSpeed, Inc., a leader in electronic marketplaces and related trading technology for the global capital markets, and BGC Partners, one of the largest and fastest growing inter-dealer brokers of financial instruments for wholesale market participants worldwide, announced eSpeed and BGC will merge, and the combined company named “BGC Partners, Inc.”
buyer: BGC Partners L.P. (BGCP:$2,554.99)
BGC Partners L.P. is a leading inter-dealer broker providing integrated voice and electronic services to wholesale market participants worldwide. BGC is active in the global credit, fixed income, foreign exchange, derivatives and money markets, offering a full range of brokerage services. "
target: eSpeed, Inc.
eSpeed, Inc. is a leader in developing and deploying electronic marketplaces and related trading technology that offers traders access to the most liquid, efficient and neutral financial markets in the world. eSpeed operates multiple buyer, multiple seller real-time electronic marketplaces.
price ($mm)
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EV / EBITDA
announced 11/25/2019 via BNC Analysis

The Charles Schwab Corporation, will acquire TD Ameritrade Holding Corporation

synopsis: Charles Schwab is to buy discount brokerage rival TD Ameritrade in an all-stock deal valued at $26 billion. TD Ameritrade is a broker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, exchange-traded funds, options, cryptocurrency, mutual funds, and fixed income investments.
buyer: The Charles Schwab Corporation (SCHW:$10,784.00)
The Charles Schwab Corporation is a leading provider of financial services. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. "
target: TD Ameritrade Holding Corporation (AMTD:$5,872.00)
TD Ameritrade is a broker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, cryptocurrency, mutual funds, and fixed income investments.
price ($mm)
$2,600
rev ($mm)
$5,872
EBITDA ($mm)
EV / rev
0.4x
EV / EBITDA
announced 12/19/2018 via Reuters

Saxo Bank, will acquire BinckBank

synopsis: Saxo Bank, a fintech specialist, is to acquire Dutch online bank BinckBank. BinckBank operates as an online bank for investors and savers by offering online financial services provided by its central European IT platform.
buyer: Saxo Bank
The Saxo Group is a fintech specialist, and they provide multi-asset market access and Banking as a Service to clients in 180 countries via cutting-edge technology. They are based in Copenhagen. "
target: BinckBank (:$186.53)
BinckBank is the largest independent Dutch online bank for investors. BinckBank operates as an online bank for investors and savers by offering online financial services provided by its central European IT platform.
price ($mm)
$482
rev ($mm)
$187
EBITDA ($mm)
EV / rev
2.6x
EV / EBITDA
closed 9/2/2014 via PR Newswire

tradeMONSTER merged with Options House,

synopsis: OptionsHouse LLC, L.P. and tradeMONSTER Group, Inc., two innovative, Chicago-based leaders in the online brokerage sector, announced the completion of the previously announced transactions to combine the two companies, creating a market leading brokerage for active traders and investors, pending final regulatory approval.
buyer parent: PEAK6 Investments LP
buyer: Options House
At OptionsHouse, their mission is to provide savvy investors in options and stock the power and functionality of traditional software-based trading tools with the portability of an online trading platform through the extensive use of leading edge web technologies. "
target: tradeMONSTER
tradeMONSTER™ is an innovative online brokerage that helps self−directed investors manage their money with the skill and confidence of professionals.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/1/2007 via

Scotiabank, acquired TradeFreedom

synopsis: Scotiabank signed a definitive agreement to acquire TradeFreedom Securities Inc., a privately owned and dynamic Canadian online brokerage boutique. The transaction complements product offerings currently available through the Bank's direct investment arm, ScotiaMcLeod Direct Investing.
buyer: Scotiabank (TSX:BNS:$14,975.30)
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 58,000 employees, Scotiabank Group and its affiliates serve approximately 12 million customers in some 50 countries around the world. "
target: TradeFreedom
TradeFreedom Securities Inc. is Canada's premier online broker for active traders and investors. Since 1999, we have been providing sophisticated online brokerage services, including instant direct access to equities, options, futures, and forex, through better technology at a better price.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/15/2007 via

INVESTools, Inc. merged with thinkorswim Group, Inc.,

synopsis: INVESTools Inc., the market leader in fulfilling the lifelong education needs of self-directed investors, and thinkorswim Group Inc., a leading online brokerage platform serving the execution needs of self-directed investors, have signed a definitive agreement to merge the two companies in a transaction valued at approximately $340 million.
buyer: thinkorswim Group, Inc. (:$0.00)
thinkorswim is a leading online brokerage company specializing in options that also offers customers a broad range of products including equities, futures, mutual funds, and bonds. "
target: INVESTools, Inc.
INVESTools Inc. is a global leader in investor education. The Company offers a full range of investor education products and services that provide lifelong learning in a variety of delivery formats.
price ($mm)
$340
rev ($mm)
$45
EBITDA ($mm)
EV / rev
7.5x
EV / EBITDA
closed 6/11/2009 via BusinessWire

TD Ameritrade Holding Corporation, acquired thinkorswim, Inc.

synopsis: TD Ameritrade Holding Corporation announced that it has completed the acquisition of thinkorswim Group Inc. This combination enhances TD AMERITRADE’s industry leadership position, solidifying its #1 market share in trades per day and making the firm the new industry leader in the number of options trades placed each day.
buyer: TD Ameritrade Holding Corporation (AMTD:$5,872.00)
TD AMERITRADE Holding Corporation, through its brokerage subsidiaries, provides a dynamic balance of investment products and services that make it the investment firm of choice for millions of retail investor and independent registered investment advisor (RIA) clients. "
target: thinkorswim, Inc.
thinkorswim is a leading online brokerage company specializing in options that also offers customers a broad range of products including equities, futures, mutual funds, and bonds.
price ($mm)[EV]
$581 [$593]
rev ($mm)
$372
EBITDA ($mm)
$104
EV / rev
1.6x
EV / EBITDA
5.7x
announced 7/3/2019 via GlobeNewswire

Tiger Brokers, will acquire Marsco Investment Corporation

synopsis: Tiger Brokers, a leading online brokerage firm focused on global Chinese investors, will acquire Marsco Investment Corporation, an online brokerage service platform in the US. Marsco focuses on empowering self-directed investors with the necessary tools to manage their portfolios.
buyer: Tiger Brokers
Tiger Brokers is a leading online brokerage firm focused on global Chinese investors. Tiger Brokers provides an online and mobile trading platform that enables investors to trade in equities and other financial instruments on multiple exchanges around the world. "
target: Marsco Investment Corporation
Marsco is an online brokerage service platform in the US. Marsco focuses on empowering self-directed investors with the necessary tools to manage their portfolios. Marsco is designed for self-directed investors who want the flexibility to trade and invest in a wide variety of securities.
price ($mm)
$9.40
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/12/2018 via BNC Analysis

Niyogin Fintech Ltd., acquired Moneyfront

synopsis: Niyogin, a non-banking finance company in India, has acquired a 50.1% stake in Moneyfront, an online robo-advisory and investment platform in India. Moneyfront helps its users invest in mutual funds and other fixed-income instruments. Users can manage their investments through a customizable portfolio management system and earn superior returns.
buyer: Niyogin Fintech Ltd. (BSE:538772:$2.40)
Founded in 1988, Niyogin is a non-banking finance company in India. The company helps small businesses with their financial needs, whether it is collateral free access to credit for working capital, financing small projects, expanding businesses or purchasing inventory. "
target: Moneyfront
Moneyfront is an online robo-advisory and investment platform in India. Moneyfront helps its users invest in mutual funds and other fixed-income instruments. Users can manage their investments through a completely customizable portfolio management system and earn superior returns.
price ($mm)
$1.67*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/6/2018 via Company Press Release

AxiCorp, will acquire One Financial Markets

synopsis: Australian-owned Forex (FX) and Contracts For Difference (CFD) trading provider AxiCorp has announced that it will acquire UK-headquartered One Financial Markets (OFM). OFM is an award-winning global online broker providing trading facilities for retail and institutional investors.
buyer: AxiCorp
AxiCorp is a leading global provider of margin and deliverable Foreign Exchange, Contracts For Difference (CFDs) and Financial Spread betting. Their major brands are AxiTrader, AxiPrime, AxiSelect and AxiForex. They offer fully regulated Retail and Institutional trading. "
target parent: KBBO Group
target: One Financial Markets
One Financial Markets is a global, award winning, online broker providing 24/5 trading facilities to retail and institutional investors in forex and CFDs on indices, commodities, energies, bonds and futures.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Geography
Matching Companies
Ticker: MORN
 
 
 
 
 
 
 
 
Morningstar, Inc.
Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions.
year
2019
rev ($mm)
$1,109.30
EBITDA ($mm)
$265.90
EBIT ($mm)
$199.20
Net Income ($mm)
$166.80
Employees
6557
  • drill down
  • watch
Ticker: MSCI
 
 
 
 
 
 
 
 
MSCI Inc.
MSCI Inc.
MSCI is an independent provider of research-driven insights and tools for institutional investors. They have deep expertise in the areas of risk and performance measurement that is based on more than 40 years of academic research, real-world experience and collaboration with their clients.
year
2019
rev ($mm)
$1,476.56
EBITDA ($mm)
$767.41
EBIT ($mm)
$709.17
Net Income ($mm)
$579.85
Employees
3266
  • drill down
  • watch
Ticker: INIX.PK
 
 
 
 
 
 
 
 
iFinix Corporation
iFinix Corporation
Ifinix is a leading global provider of financial and business information to professionals and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, Ifinix provides streaming, real-time market data, news and analytics.
year
2011
rev ($mm)
$0.54
EBITDA ($mm)
($0.26)
EBIT ($mm)
($0.27)
Net Income ($mm)
Employees
  • drill down
  • watch
Ticker: MF
 
 
 
 
 
 
 
 
MF Global Holdings Ltd
MF Global Holdings Ltd
MF Global is one of the world’s leading brokers of commodities and listed derivatives. The firm delivers trading and hedging solutions as a broker-dealer across all major markets for futures and options, commodities, fixed income, equities and foreign exchange.
year
2011
rev ($mm)
$2,233.57
EBITDA ($mm)
$69.91
EBIT ($mm)
$25.47
Net Income ($mm)
Employees
2847
  • drill down
  • watch
Ticker: IBKR
 
 
 
 
 
 
 
 
Interactive Brokers Group
Interactive Brokers Group
Interactive Brokers Group, together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and more.
year
2015
rev ($mm)
$1,045.51
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$12.53
Employees
960
  • drill down
  • watch
Ticker: MISX:OFCB
 
 
 
 
 
 
 
 
Otkritie Financial Corporation Ltd.
Otkritie Financial Corporation Ltd.
OTKRITIE Financial Corporation Ltd. is one of Russia’s leading banking groups which offers its clients and partners the full array of investment banking, commercial banking, brokerage and investment management services.
year
2017
rev ($mm)
$855.02
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$33.30
Employees
15135
  • drill down
  • watch
Ticker: BSE:512165
 
 
 
 
 
 
 
 
ABans Enterprises
ABans Enterprises
ABans Enterprises is an Indian company engaged in the business of trading, processing, broking and consulting in all kind of commodities. ABans is in the business of trading in agriculture commodities, precious metals, shares, currencies, and derivatives of all kind in electronic exchanges.
year
2019
rev ($mm)
$216.80
EBITDA ($mm)
$2.15
EBIT ($mm)
$2.06
Net Income ($mm)
$2.08
Employees
5
  • drill down
  • watch
Ticker: AMTD
 
 
 
 
 
 
 
 
TD Ameritrade Holding Corporation
TD Ameritrade Holding Corporation
TD Ameritrade is a broker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, cryptocurrency, mutual funds, and fixed income investments.
year
2019
rev ($mm)
$5,872.00
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$2,208.00
Employees
9226
  • drill down
  • watch
Ticker:
 
 
 
 
 
 
 
 
BinckBank
BinckBank
BinckBank N.V., formerly Binck N.V., is a Netherlands-based online bank for investors. The Company offers investors cost-effective access to international securities markets, including the processing of securities and cash transactions and market information.
year
2018
rev ($mm)
$186.53
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$35.94
Employees
540
  • drill down
  • watch
Ticker: STT
 
 
 
 
 
 
 
 
State Street Corporation
State Street Corporation
State Street Corporation is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading.
year
2018
rev ($mm)
$11,734.00
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
$2,450.00
Employees
38113
  • drill down
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Ticker: LTS
 
 
 
 
 
 
 
 
Ladenburg Thalmann Financial Services Inc.
Ladenburg Thalmann Financial Services is engaged in investment banking, equity research, institutional sales and trading, independent brokerage and advisory services and asset management services through its principal subsidiaries, Ladenburg Thalmann & Co., Investacorp and Triad Advisors, Inc.
year
2009
rev ($mm)
$150.68
EBITDA ($mm)
($9.89)
EBIT ($mm)
($13.63)
Net Income ($mm)
Employees
62
  • drill down
  • watch
Ticker: NMR
 
 
 
 
 
 
 
 
Nomura Holdings, Inc.
Nomura Holdings, Inc.
Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients.
year
2011
rev ($mm)
$16,764.45
EBITDA ($mm)
$3,560.91
EBIT ($mm)
$2,646.31
Net Income ($mm)
$346.80
Employees
35697
  • drill down
  • watch
Ticker: ASX:CHF
 
 
 
 
 
 
 
 
Charter Pacific Corp. Ltd.
Charter Pacific Corporation Limited, a diversified investment company, focuses on investing in the mining and resources, and agri-business sectors. Charter Pacific Corporation Limited was incorporated in 1987 and is headquartered in Surfers Paradise, Australia.
year
2014
rev ($mm)
$0.26
EBITDA ($mm)
($1.57)
EBIT ($mm)
($1.59)
Net Income ($mm)
Employees
  • drill down
  • watch
Ticker: LM
 
 
 
 
 
 
 
 
Legg Mason, Inc.
Legg Mason, Inc.
Legg Mason is a global asset management firm that provides active asset management in many major investment centers throughout the world.
year
2016
rev ($mm)
$2,660.84
EBITDA ($mm)
$492.47
EBIT ($mm)
$436.32
Net Income ($mm)
Employees
  • drill down
  • watch
Ticker: SEHK:474
 
 
 
 
 
 
 
 
Hao Tian Development Group Limited
Hao Tian Development Group Limited
Hao Tian Development Group Limited is an integrated investment group company that is focused on financial businesses. Through its subsidiaries the group offers money lending services, logistics and warehousing services, and engages in the trading of commodities.
year
2017
rev ($mm)
$15.16
EBITDA ($mm)
EBIT ($mm)
Net Income ($mm)
Employees
358
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Ticker: ASX:AMP
 
 
 
 
 
 
 
 
AMP Limited
AMP is the leading independent wealth management company in Australia and New Zealand. AMP has the largest financial advice network in Australia and New Zealand with more than 4,400 aligned and employed financial advisers. They manage more than $215 billion in assets for their customers.
year
2015
rev ($mm)
$10,662.16
EBITDA ($mm)
$2,130.31
EBIT ($mm)
$2,081.74
Net Income ($mm)
$737.68
Employees
5400
  • drill down
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Ticker: IVZ
 
 
 
 
 
 
 
 
Invesco Ltd.
Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. Invesco provides a wide range of investment strategies and vehicles to their clients around the world.
year
2019
rev ($mm)
$5,630.50
EBITDA ($mm)
$1,492.60
EBIT ($mm)
$1,331.00
Net Income ($mm)
$563.50
Employees
0
  • drill down
  • watch
Ticker: XTRA:A7A
 
 
 
 
 
 
 
 
FinLab AG
FinLab AG is one of the first and largest company builders and investors focused on the Financial Services Technologies ("fintech") sector. FinLab focuses on developing German fintech start-ups and providing venture capital for their financial needs.
year
2019
rev ($mm)
$4.68
EBITDA ($mm)
$0.79
EBIT ($mm)
$0.76
Net Income ($mm)
$21.88
Employees
0
  • drill down
  • watch