Glenn Stevens, CEO, GAIN Capital
"This transaction is an important step in enhancing our research and advisory capabilities in support of our recently expanded FX & CFD offering."
London/New York/Sydney - GAIN Capital Holdings has acquired Galvan Research, the UK's based Contract For Difference (CFD) advisory business.
Founded in 2004 by Andrew Gibson, Jonathan Pinkney and James Pinkney, Galvan Research provides individual investors with professional advice and trading recommendations across a wide range of markets, including FX, individual equities, equity indices and other market sectors.
"Galvan Research gives us a solid foundation on which to build a comprehensive advisory service for our clients," said Glenn Stevens, Chief Executive Officer of GAIN Capital. "This transaction is an important step in enhancing our research and advisory capabilities in support of our recently expanded FX & CFD offering, which now covers 12,500 financial products. We are committed to delivering value-added services to help our clients make informed trading decisions, and high quality trading ideas and advice are a core part of this strategy."
Andrew Gibson, founder and CEO of Galvan Research, added: "We are delighted to be joining GAIN Capital and look forward to taking advantage of the opportunities associated with being part of a respected company with a global reach. Over the last ten years we have built an award-winning UK business that we are proud of, and we are excited now to be able to extend our service to GAIN's customer base, as well as have the considerable resources of GAIN behind us as we look to broaden our coverage of financial markets and expand into new geographies."
Financial terms of the transaction were not disclosed.
Galvan Research will continue to operate as a separate brand, and its current management team will remain in place.
The transaction is expected to close in the second quarter, subject to regulatory approval and customary closing conditions. GAIN anticipates the transaction to be immediately accretive to its 2014 financial results.