{"id":38241,"date":"2013-09-25T14:00:22","date_gmt":"2013-09-25T18:00:22","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=38241"},"modified":"2013-09-25T14:05:57","modified_gmt":"2013-09-25T18:05:57","slug":"hedge-fund-mergers-and-acquisitions-gain-capital-completes-acquisition-of-gft","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2013\/hedge-fund-mergers-and-acquisitions-gain-capital-completes-acquisition-of-gft.html","title":{"rendered":"Hedge Fund Mergers And Acquisitions: GAIN Capital Completes Acquisition of GFT"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/06\/msp-mergers-and-acquisitions.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-23038\" alt=\"mergers-and-acquisitions\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/06\/msp-mergers-and-acquisitions.jpg\" width=\"300\" height=\"210\" \/><\/a>New York (HedgeCo.Net) &#8211; \u00a0Hedge fund resource provider GAIN Capital Holdings, Inc., has completed the acquisition of Global Futures &amp; Forex, LTD (&#8220;GFT&#8221;).<\/p>\n<p>&#8220;The acquisition of GFT will yield numerous benefits for our clients, partners and shareholders,&#8221; said\u00a0Glenn Stevens, Chief Executive Officer of GAIN Capital. &#8220;The combined company boasts a deeper global footprint, a robust offering of more than 12,500 financial products, and industry-leading trading technology.<\/p>\n<p>Pro forma\u00a0first half 2013 financials include:<\/p>\n<ul type=\"disc\">\n<li>Revenue of\u00a0$190.0 million\u00a0(GAIN Capital:\u00a0$122.8 million; GFT:\u00a0$67.2 million)<\/li>\n<li>Pro forma<sup>1<\/sup>\u00a0trading volume through\u00a0June 30, 2013\u00a0of\u00a0$3.6 trillion\u00a0(GAIN Capital:\u00a0$2.8 trillion;<br \/>\nGFT:\u00a0$0.8 trillion)<\/p>\n<ul type=\"disc\">\n<li>Retail OTC:\u00a0$1.3 trillion\u00a0(GAIN Capital:\u00a0$899.1 billion; GFT:\u00a0$391.3 billion)<\/li>\n<li>Institutional:\u00a0$2.3 trillion\u00a0(GAIN Capital:\u00a0$1.9 trillion; GFT:\u00a0$0.4 trillion)<\/li>\n<\/ul>\n<\/li>\n<li>Pro forma<sup>1<\/sup>\u00a0client assets as of\u00a0June 30, 2013\u00a0of\u00a0$683.8 million\u00a0(GAIN Capital:\u00a0$475.6 million;<br \/>\nGFT:\u00a0$208.2 million)<\/li>\n<\/ul>\n<p>Highlights of the acquisition include:<\/p>\n<ul type=\"disc\">\n<li>Operating synergies of\u00a0$35 million &#8211; $45 million\u00a0in the first full year following closing<\/li>\n<li>Acquisition expected to be accretive to fourth quarter 2013 earnings<\/li>\n<\/ul>\n<p>Under the terms of the transaction, the purchase price is comprised of\u00a0$40 million\u00a0in cash, approximately 3.6 million shares of GAIN Capital stock and an approximately\u00a0$33 million\u00a05-year seller note.\u00a0 GAIN received approximately\u00a0$73 million\u00a0of GFT cash at closing.<\/p>\n<p>&#8220;We intend to use GFT&#8217;s broad product offering, innovative tools and educational capabilities to further strengthen our competitive position, while realizing significant synergies from combining the best of both organizations,&#8221; Stevens said. &#8220;This transaction is an important strategic step in solidifying our leadership position in the industry.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; \u00a0Hedge fund resource provider GAIN Capital Holdings, Inc., has completed the acquisition of Global Futures &amp; Forex, LTD (&#8220;GFT&#8221;). &#8220;The acquisition of GFT will yield numerous benefits for our clients, partners and shareholders,&#8221; said\u00a0Glenn Stevens, Chief [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,16043,3],"tags":[],"class_list":["post-38241","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedge-fund-technology","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=38241"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38241\/revisions"}],"predecessor-version":[{"id":38243,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/38241\/revisions\/38243"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=38241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=38241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=38241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}