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Gain Capital (GCAP) to Acquire City Index in Net $82M Deal
October 31, 2014 6:26 AM EDTGain Capital (NYSE: GCAP) has entered into a definitive agreement to acquire City Index (Holdings) Limited ("City Index"), a leading online trading firm specializing in contracts-for-difference (CFDs), forex and UK spread betting, for approximately $118 million, or a net purchase price of $82 million, including $36 million in cash on the company's balance sheet.
The combination of GAIN Capital and City Index creates a global leader in online trading, operating two market-leading brands in GAIN's FOREX.com, a top retail forex brand globally, and City Index, a premier CFD and spread bet brand. The combined company will... More
