Company news

Exclusive: Gallant Capital Markets Acquired by WSM Investments for $14.5 Million

Gallant Capital Markets, the British Virgin Islands (BVI) based FX broker, has announced to Forex Magnates that it has agreed to merge with WSM Invest Ltd., a global financial services firm affiliate with multiple licenses to operate in Europe and Asia. The transaction is pending final regulatory approval in the British Virgin Islands, where Gallant is regulated by the Financial Services Commission (FSC).

Forex Magnates has learned that the cost of the M&A deal is at least $10.5 million (as an agreed upon floor for the deal) and the total maximum price is capped at $14.5 million, based on the achieved growth rate for the merged company over the next five years. According to the agreement, 50% of the sum has already been paid up front upon execution to Gallant Capital Markets.

The aim of the merger is to enable Gallant to expand its product offering globally and to create operating and technology efficiencies across the combined entities. It will facilitate Gallant white-label and other co-branding ventures in markets where WSM holds regulatory licenses. Gallant’s straight-through-processing (STP) model will also be rolled out across the combined company, expanding its tier-one FX liquidity, CFD, metals and options trading services globally.

- See more at: https://forexmagnates.com/exclusive-gallant-capital-markets-acquired-by-wsm-investments-for-14-5-million/#sthash.PITzwRDC.dpuf

Tuesday, 12 Aug, 2014 / 3:28

Source : http://forexmagnates.com/exclusive-gallant-capital-markets-acquired-by-wsm-investments-for-14-5-million/#sthash.PITzwRDC.dpuf

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