BGC Partners announces agreement to acquire Sunrise Brokers
BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” “BGC,” or “the Company”) a leading global brokerage company servicing the financial and real estate markets, today announced that it has entered into an agreement to acquire the businesses of Sunrise Brokers Group (“Sunrise Brokers”), an independent financial brokerage with a leading reputation in worldwide equity derivatives.
“This transaction enables us to further expand our equity derivatives offering and complements our existing financial services business,” said Shaun D. Lynn, President, BGC Partners. “As a recognized leader in its market segments, Sunrise Brokers is clearly a valuable addition to the BGC family of brands.” In 2015, Sunrise Brokers was voted overall Number One Equity Products Broker of the Year by Risk magazine for the ninth year running and Number One Equity Exotic Derivatives for the thirteenth year running.
Details of the transaction were not disclosed, and completion of the transaction is subject to legal and regulatory approvals and certain closing conditions. Sunrise Brokers generated consolidated revenues of approximately $90 million in the financial year ending December 31, 2015.
Source: BGC Partners
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