Schwab Most Likely to Buy Texas Online Trading Firm, Paper Says
San Francisco, Jan. 21 (Bloomberg) -- Charles Schwab Corp.,
the largest Internet broker, is the most likely buyer for
CyBerCorp.com, an online broker for frequent stock traders, the
San Francisco Chronicle reported, citing unidentified people
familiar with the situation. Austin, Texas-based CyBerCorp is
talking with several other suitors, though Schwab seems to be the
most willing to pay the $100 million or more the company is
asking in order to win CyBerCorp's technology for locating the
best stock prices on various trading systems. CyBerCorp's 2,500
clients carry out 20,000 trades a day, or eight a day each;
Schwab's 3.3 million online customers execute just 234,000 trades
a day, or two a month each, the Chronicle said.
Schwab said Tuesday that fourth-quarter profit rose two-
thirds, matching expectations, as customers poured a record $33.3
billion in new assets into their accounts. |
