E-Trade Buys Tradescape
ORGANIZATION AND STRATEGY
E-Trade Financial has agreed to purchase Tradescape’s on-site active-trading business and technology platform for $100 million in common stock, bringing on front-end trading technology, 20 trading locations and 150 employees, and about 2,000 customers, industry sources say. The deal includes an additional $180 million payable if Tradescape exceeds undisclosed earnings targets and revenue goals for the next two years. The purchase comprises Momentum Securities, an on-site brokerage firm for
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