Darling, gather ’round! The ever-so-dapper IG Group, that bastion of British trading prowess, has swept in like a debonair rake at a country house party and snaffled up Independent Reserve, Australia’s crypto darling, for a cool AUD 178 million. 🥂 Yes, my dear, that’s roughly $117 million in Yankee dollars. How utterly spiffing!
According to the official tittle-tattle from IG’s drawing room, they’re snapping up a 70% stake for AUD 109.6 million, with a cheeky AUD 15 million chaser if the exchange behaves itself by 2026. 🕵️♂️ Apparently, this little escapade is meant to fling open the doors to the Asia-Pacific market, where IG has been itching to show off its dancing shoes. How très chic!
Matt Macklin, the Managing Director of Asia Pacific & Middle East at IG, trilled, This acquisition marks an important step in IG’s crypto strategy in a key region. Independent Reserve is one of Australia’s largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology, and strong leadership.
🦚 He then added, with a wink and a nod, I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth.
Oh, the drama!
Of course, this little tryst isn’t quite a done deal-it’s all pending the nod from the Foreign Investment Review Board of Australia and the Monetary Authority of Singapore. 🧐 Early 2026, they say. How very bureaucratic, darling!
Adrian Przelozny, the CEO and Co-Founder of Independent Reserve, chimed in with, Joining IG provides us with the platform to accelerate our growth. IG’s vision aligns with our mission to provide secure, regulated crypto trading, and this transaction will enable us to expand our product and market reach.
🌟 Such a team player, isn’t he?
And what of IG’s bottom line, you ask? Well, my pet, they’re expecting this little venture to be cash earnings-per-share accretive in its first full year after closing (FY27) and to deliver a return on capital above the group’s cost of capital within three to five years. 🤑 How marvelously prudent!
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2025-09-19 18:13