GAIN Capital Acquires Galvan Research, UK's Leading CFD Advisory Service
LONDON, NEW YORK and SYDNEY, April 7, 2014 /PRNewswire/ --
GAIN Capital Holdings, Inc. (NYSE: GCAP), a global provider of online trading services, today announced the acquisition of Galvan Research, the UK's leading 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 was voted Best Equity Derivatives Advisor eight times by the readers of Shares magazine (2005-2009, 2011-2013) and has earned six consecutive wins as Best CFD Advisor at the Money AM Awards (2008-2013). Galvan is authorized and regulated by the U.K. Financial Conduct Authority.
"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.
About GAIN Capital
GAIN Capital Holdings, Inc. (NYSE: GCAP) provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities.
GAIN Capital is headquartered in Bedminster, New Jersey, with a global presence across North America, Europe and the Asia Pacific regions. For further company information, visit http://www.gaincapital.com.
SOURCE GAIN Capital