Online brokerage firm NAGA Group (ETR:N4G) has issued a brief statement regarding its acquisition of Trade Capital UK (TCUK) Ltd – the London based, FCA regulated arm of the TRADE.com CFDs brokerage group – following FNG’s report from earlier today that NAGA had indeed acquired the TRADE.com UK business.

NAGA reported that the purchase price for the acquisition amounts to £1.24 million (USD $1.65 million), including net cash of approximately £0.59 million. TRADE.com UK manages client equity of £1.88 million. NAGA said that it anticipates generating additional business by introducing its unique product offering to the UK market in partnership with TRADE.com UK.

As we had reported earlier, NAGA said that the completion of the purchase agreement is subject to regulatory approval. Looking ahead, NAGA said that the acquisition (if and when completed) is expected to contribute to NAGA’s top-line revenue of €6.5 million by 2026, and €2.5 million in EBITDA, all of course provided that it first receives regulatory approval from the FCA.