IG Group Acquires Majority Stake in Independent Reserve for $72M
- IG Group has acquired a majority stake in Independent Reserve for approximately $72.4 million AUD ($109.6 million AUD).
- The deal will see IG initially acquire a 70% stake, with an option to buy the remaining 30% based on future performance.
- Independent Reserve supports trading in 34 cryptocurrencies and reported a revenue of $23.3 million AUD for the fiscal year ending June.
- The acquisition is expected to close by early 2026, pending regulatory approvals, with a total deal value of $117.6 million AUD.
- Independent Reserve has seen an 88% increase in revenue year-over-year and a 60% rise in monthly active users, reaching around 11,600.
This acquisition aims to enhance IG’s presence in the Asia-Pacific crypto markets and aligns with its recent expansions in other regions like the U.K. and U.S.
The transaction positions Independent Reserve for growth while maintaining secure trading practices, as it holds $1.12 billion AUD in assets under custody from funded accounts.(Source)
