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.”