GAIN Capital Completes Sale of GTX ECN Business for $100M

7/1/18

GAIN Capital Holdings, Inc. (NYSE: GCAP), a leading global provider of online trading services, announced today that it completed the previously announced sale of the Company's GTX ECN business to Deutsche Börse Group via its FX unit, 360T for a total purchase price of $100 million. In connection with the closing, the Company received approximately $85 million, net of taxes and transaction-related expenses and fees.

"The sale of GTX marks a pivotal moment for GAIN by allowing us to focus additional attention and resources on the core retail business and setting us on a trajectory for enhanced growth and profitability," commented Glenn Stevens, Chief Executive Officer of GAIN Capital. "In addition to investing in organic growth, the proceeds provide us with increased financial flexibility to pursue M&A opportunities that will accelerate our growth strategy, return capital to shareholders via our stock repurchase program, and reduce our debt. We thank Deutche Borse and its 360T Unit for their partnership during and after this transaction closes."

Jefferies LLC served as exclusive financial advisor and Davis Polk & Wardwell LLP served as legal advisor to GAIN Capital.

Detailed financial information concerning the transaction is included in an investor presentation available on the Company's investor relations website at http://ir.gaincapital.com.

About GAIN

GAIN Capital Holdings, Inc. 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 www.gaincapital.com.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.