FintekNews Deal of the Day – E*Trade Acquires OptionsHouse for $725M

Note from the Publisher:  Online trading behemoth E*Trade has announced that it has agreed to acquire Chicago-based OptionsHouse for $725M.  OptionsHouse is an options-centric trading platform that previously merged with TradeMonster in 2014 and holds over 154,000 customer accounts with $3.6B in customer assets.  Earlier this year, Allly Bank announced its acquisition of trading platform TradeKing.  It would appear that 2016 is the year of online trading platforom rollups & acquisitions. 

“NEW YORK–(BUSINESS WIRE)–E*TRADE Financial Corporation (NASDAQ:ETFC) today announced it has entered into a definitive agreement to acquire Aperture New Holdings, Inc., the ultimate parent company of OptionsHouse, for $725 million in cash. The transaction will boost E*TRADE’s derivatives capabilities while expanding its customer profile with the addition of OptionsHouse’s highly active, derivative-centric traders. The Company will host a conference call today at 8:30 a.m. ET to discuss the transaction (details are below).

E*TRADE intends to finance the transaction through the issuance of up to $400 million of non-cumulative perpetual preferred stock, with the balance paid in cash. The transaction is expected to close in the fourth quarter of 2016, subject to customary closing conditions and regulatory approvals.”

Read Full Press Release at BusinessWire
Read Full Listing at Crunchbase