GAIN Capital To Sell Its GTX ECN Business - Quick Facts

(RTTNews) - GAIN Capital Holdings, Inc. (GCAP) announced a definitive agreement to sell the company's GTX ECN business, an institutional platform for trading foreign exchange, to Deutsche Börse Group, via its FX unit, 360T for a total purchase price of $100 million. The transaction is expected to result in proceeds of approximately $85 million for GAIN.

Glenn Stevens, CEO of GAIN Capital, said: "We have taken this strategic step in order to focus our attention and resources on our core retail business and on using available levers to unlock shareholder value. Proceeds from the sale of GTX provide us with additional financial flexibility to invest in organic growth and M&A opportunities, while providing increased liquidity to accelerate return on capital, which may include increasing the scale of our stock repurchase program and reducing our debt."