19.11.2007 18:30:00
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ING DIRECT Acquires ShareBuilder
ING DIRECT USA, the nation’s largest direct
bank (part of Netherlands-based ING NYSE: ING) announced today that it
has completed its acquisition of ShareBuilder Corporation, a
privately-held Seattle-based online financial services company. The
acquisition which is part of ING DIRECT’s
latest step toward meeting the financial needs of Main Street, USA, will
add cost-effective, simple investment options to ING DIRECT’s
consumer product offerings, which currently include online savings and
checking accounts, CDs, Mutual Funds and mortgages.
Through this transaction, ING DIRECT, through its broker-dealer
subsidiary ING DIRECT Securities, Inc., has acquired 100% of
ShareBuilder Corporation’s outstanding
equity-related interests, including its subsidiary ShareBuilder
Securities Corporation.
"ING DIRECT has empowered savers with great
value, ease of transactions and unmatched customer service,”
commented Arkadi Kuhlmann, President and CEO of ING DIRECT. "Now,
with the addition of ShareBuilder we can provide customers a low-cost,
easy to understand way to invest on a regular basis. Both Companies
share a mission to enable Main Street America to build and manage their
wealth in a straightforward manner.” "These are two companies who are committed to
their customers and the financial health and well-being of those
customers. Both ING DIRECT and ShareBuilder provide financial products
and services that are simple, easy-to-understand, and accessible for
mainstream America,” said Dan Greenshields,
President and CEO of ShareBuilder Corporation. "We
are confident that our combined company’s
broader range of products and services will motivate Americans to save.”
ShareBuilder, like ING DIRECT, is a low-cost, direct business model.
Both target early stage investors - ING DIRECT through the Orange
Savings Account, Electric Orange, CDs and Mutual Funds; and ShareBuilder
through a limited set of simple and high-value investment products
including Stocks, Exchange Traded Funds, Options and Automatic
Investment Plans. Most significantly, both promote regular investment
and long-term savings.
About ING DIRECT
ING DIRECT, the nation’s largest direct bank
and fourth-largest thrift, is dedicated to inspiring Americans to become
a nation of savers. Since its inception in 2000, more than 6 million
Americans have entrusted their savings with ING DIRECT, building the
bank to $77 billion in assets. For more information on ING DIRECT, or to
learn more about the bank’s high-value
products, including the Orange Savings Account and the Orange Mortgage,
visit www.ingdirect.com or call
1-800-ING DIRECT.
About ShareBuilder
ShareBuilder Securities Corporation (www.sharebuilder.com)
is an online brokerage designed for long-term investing. The company's
vision is to increase the personal savings rate of the average American
by helping people build and manage wealth over the long term. Customers
pay low fees on individual transactions, have no account or investment
minimums and can choose from three automatic, dollar-based investing
programs.
In addition to its brokerage business, ShareBuilder Corporation owns and
operates ShareBuilder 401(k), which provides simple, flexible and
affordable 401(k) plans to small business owners (www.sharebuilder401k.com).
ShareBuilder Securities Corporation, a subsidiary of ShareBuilder
Corporation, is a registered broker-dealer and member FINRA/SIPC.
ShareBuilder Advisors, LLC, a subsidiary of ShareBuilder Corporation, is
a registered investment advisor.
Style note to Editors: ING DIRECT is always capitalized and never
referred to as ING.
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