Rakuten Sec to acquire FXCM Japan for $62 million


FXCM Inc (NYSE:FXCM), a giant in the retail Forex industry, announced today that Rakuten Securities, Inc., a subsidiary of Rakuten Inc (TYO:4755), will acquire its Japanese operations in a deal worth approximately $62 million.

The definitive agreement has been reached amid FXCM Holdings, LLC and FXCM Newco, LLC (“FXCM”) and Rakuten. The deal will see FXCM Japan Securities Co., Ltd gain a new owner – one of the top 5 Forex brokers in Japan.

Rakuten Sec will continue to use the FXCM trading system for legacy FXCM Japan clients and will be notifying clients once the deal is completed. The transaction is expected to close on April 1, 2015, subject to customary closing conditions and the final purchase price will be based on FXCM Japan’s March 31, 2015 balance sheet.

“We are pleased to announce this transaction with Rakuten Sec, as they are an innovative and strong firm,” said Drew Niv, CEO of FXCM. “We are confident that they will provide the same level of excellent service and trading environment that our account holders have experienced at FXCM.”

“We are delighted to invite FXCM Japan to Rakuten group,” said Yuji Kusunoki, President of Rakuten Sec. “We believe that our combined capability will enhance our strategy to be the top FX service provider in Japan.”

Pinnacle Inc. served FXCM as financial advisor on the deal.

Plans to sell FXCM Japan have been known for a couple of months, as FXCM Inc is seeking to raise funds to repay its $300 million loan to Leucadia.

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Rakuten Sec to acquire FXCM Japan for $62 million

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