E*TRADE Group Inc. will acquire TIR Holdings Ltd. The acquisition of the international financial services is expected to help E*TRADE become the first global trading network for online investors to make trading in foreign securities accessible.
TIR shareholders will receive E*TRADE common stock valued at about $122 million. The transaction, which may be accounted for as a pooling of interests, will be accretive to earnings. In addition, TIR’s annual revenue of approximately $100 million will diversify E*TRADE’s base.
Network
