Brief: IG Group tp buy DailyFX for $40 million

Global Brokerage

30/09/2016 07:01

Sept 30 (Reuters) - IG Group Holdings Plc  IGG.L  
    * Acquisition of dailyfx 
    * On an annualised basis, it is expected that addition of 
dailyfx news and education-based marketing channel will add 
around £5 million to ongoing operating costs 
    * Currently anticipated that this channel will generate a 
sufficient number of incremental active clients such that it 
will be earnings enhancing in IG's FY18 financial year, and will 
deliver increasing value beyond. 
    * Has agreed, subject to final approvals, to purchase 
dailyfx, a leading global news and research portal, and its 
associated assets, from fxcm inc 
    * Deal  for a total consideration of $40 
    * It is anticipated that transaction will complete by end of 
october 
    * Also expected that purchase price for assets will be 
amortised on a straight-line basis over 10 years 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nRSd2715La 
Further company coverage:  IGG.L  
 
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