IG Group Expands Crypto Reach with $117 Million Acquisition
TLDR
- IG Group to acquire 70% of Independent Reserve for $72M, with performance-based options.
- Independent Reserve saw 70% annual revenue growth, reaching $23.9M.
- The deal will expand IG Group’s regulated crypto services in Australia and Singapore.
- Independent Reserve has 11,600 active customers, with 76% of revenue from Australia.
IG Group has made a strategic move to strengthen its presence in the Asia-Pacific region by agreeing to acquire the Australian crypto exchange Independent Reserve for $117.1 million. The acquisition, which will initially see IG purchase a 70% stake, will enhance the company’s digital asset offerings and expand its reach in the highly competitive markets of Australia and Singapore. This deal…
