MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, August 8, 2005 Deal Time (At Last) for E Trade E Trade has finally landed a deal with another online broker. E Trade will buy Harrisdirect's U.S. operations for $700 million in cash, according to a press release Harrisdirect will add 430,000 customer accounts with $32 billion in assets, or an average account balance of $70,000. Harrisdirect's customer base executes approximately 15,000 trades per day. After the integration of Harrisdirect, E Trade will have more than four million customer accounts with $130 billion assets, making an average of 130,000 daily trades. E Trade expects to realize $186 million in pre-tax operating synergies -- $114 million in expense synergies and $72 million in revenue synergies. E Trade also obtained to market to an additional 300,000 customer accounts through the deal. Printed from: MFWire.com/story.asp?s=10221 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |