Investment

Virtu Completes $1bln Acquisition of Investment Technology Group

High-frequency buying and selling agency Virtu Financial introduced the completion of its acquisition of Investment Technology Group (ITG) this Friday.

News of the deal was formally launched in November of final 12 months.

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“Over the previous 4 months, the devoted management groups of each companies have developed an in depth integration plan,” mentioned Virtu CEO Douglas Cifu.

“In the approaching days we are going to start to execute that plan to carry Virtu’s main expertise, threat administration and operational effectivity to ITG’s array of company options to raised serve a worldwide consumer franchise.”

As was initially said again in November, Virtu will likely be paying roughly $1 billion for ITG – equal to roughly $30.30 per share.

“ITG has a protracted historical past of offering shoppers with superior service and value-added merchandise,” continued Cifu. “We look ahead to creating the premier technology-enabled market making and execution providers franchise.”

Second M&A in two years

Now that the deal has been accomplished, Virtu will likely be launching a “Client Information Security Program.”

For these unfamiliar with such applications, its corp-speak for an organization offering data to their shoppers on what their data safety insurance policies are or will likely be.

Virtu mentioned that it is going to be taking enter from its shoppers to find out what the very best requirements will likely be for the corporate with regards to data safety.

The completion of the ITG deal marks the second large-scale acquisition that Virtu has undertaken in lower than two years.

In early 2017, Virtu purchased fellow high-frequency buying and selling agency KCG Holdings for about $1.three billion.

That deal noticed Virtu develop into the company execution enterprise and increasing its current market making actions.

 

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David

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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