LONDON and NEW YORK, July 1, 2014 /PRNewswire/ -- GAIN Capital Holdings, Inc. (NYSE: GCAP, "GAIN" or "the Company") today announced that it completed the acquisition of Galvan Research, the UK's leading Contract For Difference (CFD) advisory business.
GAIN previously announced that it had agreed to acquire 100% interest in Galvan Research. Terms were not disclosed.
"We are pleased to announce we have closed the acquisition of Galvan Research, our third acquisition of 2014," said Glenn Stevens, Chief Executive Officer of GAIN Capital. "Galvan gives us a solid foundation on which to build a comprehensive advisory service for our clients in support of our recently expanded FX & CFD offering."
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.
The transaction is expected to be immediately accretive to 2014 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 www.gaincapital.com.
Forward-Looking Statements:
In addition to historical information, this press release contains "forward-looking" statements that reflect management's expectations for the future. The forward-looking statements contained in this press release include, without limitation, statements relating to GAIN Capital's expectations regarding the opportunities and strengths of the combined operations of GAIN and Galvan, as well as expectations regarding product offerings, growth opportunities, value creation, and financial strength. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout GAIN Capital's annual report on Form 10-K, as filed with the Securities and Exchange Commission on March 17, 2014, and include, but are not limited to, the actions of both current and potential new competitors, fluctuations in market trading volumes, financial market volatility, our ability to successfully integrate assets and companies we have acquired, our ability to effectively compete in the OTC products and futures industries, evolving industry regulations, including changes in regulation of futures companies, errors or malfunctions in our systems or technology, rapid changes in technology, effects of inflation, customer trading patterns, the success of our products and service offerings, our ability to continue to innovate and meet the demands of our customers for new or enhanced products, changes in tax policy or accounting rules, fluctuations in foreign exchange rates and commodity prices, adverse changes or volatility in interest rates, as well as general economic, business, credit and financial market conditions, internationally or nationally. The forward-looking statements included herein represent GAIN Capital's views as of the date of this press release. GAIN Capital undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
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SOURCE GAIN Capital Holdings, Inc.