FXCM to Sell FXCM Japan to Rakuten Sec for $62 Million
March 25 2015 - 8:00AM
FXCM Inc. (NYSE:FXCM) a leading online provider of foreign exchange
(FX) trading and related services, today announced that FXCM
Holdings, LLC and FXCM Newco, LLC ("FXCM") have signed a definitive
agreement to sell FXCM Japan Securities Co., Ltd ("FXCM Japan") to
Rakuten Securities, Inc. ("Rakuten Sec"), a top 5 FX broker in
Japan, and a subsidiary of Rakuten, Inc. ("Rakuten") (TOKYO:4755),
one of the world's largest Internet services companies, for a
purchase price of approximately $62 million.
Rakuten Sec will continue to use the FXCM trading system for
legacy FXCM Japan clients and will be notifying clients once the
deal is finalized.
The transaction is expected to close on April 1, 2015, subject
to customary closing conditions and the final purchase price
will be based on FXCM Japan's March 31, 2015 balance sheet.
"We are pleased to announce this transaction with Rakuten Sec,
as they are an innovative and strong firm," said Drew Niv, CEO of
FXCM. "We are confident that they will provide the same level of
excellent service and trading environment that our account holders
have experienced at FXCM."
"We are delighted to invite FXCM Japan to Rakuten group," said
Yuji Kusunoki, President of Rakuten Sec. "We believe that our
combined capability will enhance our strategy to be the top FX
service provider in Japan."
Pinnacle Inc. served FXCM as financial advisor on the deal.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of online foreign
exchange (forex) trading, CFD trading, spread betting and related
services. Our mission is to provide global traders with access to
the world's largest and most liquid market by offering innovative
trading tools, hiring excellent trading educators, meeting strict
financial standards and striving for the best online trading
experience in the market.
Clients have the advantage of mobile trading, one-click order
execution and trading from real-time charts. In addition, FXCM
offers educational courses on forex trading and provides free news
and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level
of risk, which may result in losses that could exceed your
deposits, therefore may not be suitable for all investors. Read
full disclaimer.
Visit www.fxcm.com and follow us on Twitter @FXCM, Facebook
FXCM, Google+ FXCM or YouTube FXCM.
About Rakuten Sec
Rakuten Securities, Inc., a subsidiary of Rakuten, Inc., is one
of the major online brokers in Japan, founded in 1999. Rakuten Sec
is ranked 3rd in terms of equities trading value and 5th in terms
of FX trading value in the Japanese securities market.
About Rakuten
Rakuten, Inc. (TOKYO:4755) is one of the world's leading
Internet services companies. Rakuten provides a variety of products
and services for consumers and businesses, with a focus on
e-commerce, finance, and digital content. Since 2012, Rakuten has
been ranked among the world's 'Top 20 Most Innovative Companies' in
Forbes magazine's annual list. Rakuten is expanding worldwide and
currently operates throughout Asia, Europe, the Americas and
Oceania. Founded in 1997, Rakuten is headquartered in Tokyo, with
over 14,000 employees and partner staff worldwide.
For more information: http://global.rakuten.com/corp/.
CONTACT: FXCM Inc.
Jaclyn Klein, 646-432-2463
Vice-President, Corporate Communications
jklein@fxcm.com
investorrelations@fxcm.com
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