E*TRADE Completes Acquisition of TIR Holdings Ltd.
MENLO PARK, Calif., Sept. 7 /PRNewswire/ -- E*TRADE© Group Inc. (Nasdaq: EGRP - news) today announced the completion of its acquisition of TIR Holdings Ltd., an international financial services company offering global multi-currency securities execution and settlement services, and a leader in providing independent research to institutional investors. E*TRADE announced it entered into a definitive agreement to acquire TIR on July 13, 1999, and the transaction was finally closed on Aug. 31, 1999.
The acquisition of TIR is expected to accelerate E*TRADE's goal of building the first global cross-border trading network for online investors, making international trading in securities accessible to retail, corporate and institutional investors.
``We expect TIR to play a significant role in advancing E*TRADE's vision to empower individual investors worldwide to realize their financial goals faster and more effectively,' said Judy Balint, president of E*TRADE International. ``TIR not only will enable E*TRADE to increase its global presence, but also integrate the expanding number of E*TRADE-branded sites worldwide into a cohesive investing network.' |
