IG Group, a UK-based online trading firm, announced on Friday its acquisition of Independent Reserve, an Australian cryptocurrency exchange. The purchase price was A$178 million, equivalent to $117.41 million in US currency. This move signifies IG Group’s expansion into the digital asset market and strengthens its foothold within the Asia-Pacific region.
IG Group anticipates the acquisition to positively impact their per-share cash earnings, starting with the initial full financial year following the deal’s finalization. (This report has been updated to accurately reflect IG Group’s stock ticker in the opening paragraph.)
($1 = 1.5161 Australian dollars)
(Reported by Ankita Bora from Bengaluru; Edited by Rashmi Aich)