Saxo in $18.8m acquisition
The Danish bank signed a memorandum of understanding with Tricom and its equity partners Babcock & Brown and ANZ Group on April 29 to buy the stake for A$20 million ($18.8 million), all in cash. The deal, due to close in early June, gives Saxo the option to acquire the whole company within three years.
The acquisition will extend a five-year-plus whitelabel partnership with Tricom, which has been using a branded version of Saxo Bank's trading platform SaxoTrader. The broker has over 2,000 clients
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