IG Group is about to drop $72 million for a juicy 70% slice of Independent Reserve-buckle up for a wild ride in the crypto world!
So, here’s the deal: IG Group, the big-time FTSE 250 trading firm, has decided it’s time to get serious about crypto-how serious? So serious they’re buying 70% of Independent Reserve, one of Australia’s largest crypto exchanges, for a cool $72 million. This means they’re about to turbocharge their crypto game across Asia Pacific. Watch out, UK and US, IG’s eyes are on the prize in new markets! 😎
IG Snaps Up 70% of Independent Reserve for $72 Million-Now That’s What We Call a Deal!
Independent Reserve, which is now worth around $117.1 million (thanks to a nifty 5x revenue multiplier), is about to see IG slide in with their $72 million check to grab 70% of the action. But wait-there’s more! If things go as planned, IG could expand its share in the future, just like that classic infomercial promise. 📈
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What’s the motive behind all this? IG wants to speed up its crypto dominance and snag a team of experts who actually know how to run a crypto exchange (unlike that one time you tried explaining blockchain at a dinner party 😅). This acquisition isn’t just about throwing money at a company, it’s a strategic power move that’ll boost IG’s crypto offerings in the UK, US, and beyond. Because why stop at two countries when you can have a whole region to dominate? 🌍
Matt Macklin, IG’s Managing Director for Asia Pacific and the Middle East, is hyped about the acquisition, calling it a major win for IG’s crypto strategy. He’s got all the feels about Independent Reserve’s tech and leadership, and he’s not shy about sharing his excitement. According to him, having the Independent Reserve team on board is like getting the Avengers of crypto in your corner. 💥
On the other hand, Adrian Przelozny, the CEO and co-founder of Independent Reserve, thinks this whole IG deal is like finding a cheat code for fast growth. He’s all about safe and controlled crypto trading, and with IG’s support, they’re ready to expand faster than you can say “blockchain.”
Independent Reserve’s Active Users Skyrocket 60%-And It’s Not Even the Big Deal Yet!
Independent Reserve isn’t just sitting pretty. They’re buying and selling 34 digital assets, trading in all kinds of currencies, and keeping both retail and institutional clients happy. Oh, and did we mention they’re already approved to operate in Australia and Singapore? Yeah, IG’s getting a VIP pass to those markets. 🏆
But here’s the kicker: despite IG swooping in with its big wallet, the leaders and employees of Independent Reserve will stick around, keeping a 30% stake in the business. This is like getting the keys to a Ferrari, but the previous owners are still sitting in the backseat giving you driving tips. 🏎️
Independent Reserve is doing pretty well financially too. They’re expecting $35.3 million (about £17.7 million) in revenue by June 2025-an 88% increase from last year. They’re also gaining about 11,600 active users every month, which is a 60% growth rate. Looks like IG’s about to make a serious power play! ⚡
Before it’s official, though, the Monetary Authority of Singapore (MAS) and Australia’s Foreign Investment Review Board (FIRB) need to give the green light. But once that happens, this deal will be wrapped up and ready to roll by early 2026. Stay tuned! 📅
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2025-09-20 04:43