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BRIEF-IG Group tp buy DailyFX for $40 million
September 30, 2016 / 6:46 AM / in a year

BRIEF-IG Group tp buy DailyFX for $40 million

Sept 30 (Reuters) - IG Group Holdings Plc

* Acquisition of dailyfx

* On an annualised basis, it is expected that addition of dailyfx news and education-based marketing channel will add around £5 million to ongoing operating costs

* Currently anticipated that this channel will generate a sufficient number of incremental active clients such that it will be earnings enhancing in IG’s FY18 financial year, and will deliver increasing value beyond.

* Has agreed, subject to final approvals, to purchase dailyfx, a leading global news and research portal, and its associated assets, from fxcm inc

* Deal for a total consideration of $40

* It is anticipated that transaction will complete by end of october

* Also expected that purchase price for assets will be amortised on a straight-line basis over 10 years Source text for Eikon: Further company coverage:

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