ETrade Financial Corp. (Nasdaq: ETDC) has agreed to acquire online trading company Aperture New Holdings Inc. from General Atlantic Co. for $725 million. Aperture is the parent company of OptionsHouse.
OptionsHouse, based in Chicago, provides online and mobile trading services. The company has $3.6 billion in assets through 154,000 accounts. OptionsHouse generated about 27,000 daily average trades for the 12 months ended June 30 and posted about $104 million in revenue.
“We believe options are an important component of an investor’s arsenal and this deal will intensify our derivatives firepower,” says ETrade CEO Paul Idzik. ETrade will fund the acquisition with $400 million in preferred stock and the remainder in cash.
In other financial technology deals, Bregal Sagemount acquired financial services data provider Discovery Data Inc.; Deluxe Corp. (NYSE: DLX) bought Datamyx LLC, another data services firm; and FactSet purchased automated trading firm Portware LLC.
Credit Suisse along with Skadden Arps Slate Meagher & Flom are advising ETrade. Evercore Partners Inc. (EVER), Jefferies and Paul Weiss Rifkind Wharton & Garrison are advising Aperture.