Salt Lake City, Utah-based INVESTools, a provider of education for investors, and Chicago-based thinkorswim, an online brokerage firm, said Tuesday that the two will merge in a $340M transaction. thinkorswim is an online brokerage focused on the options market. According to the firms, thinkorswim generated $45.1M in revenue and net income of $11.2M for the 12 months ended June 30, 2006. The deal is worth 50% cash and 50% stock, and is funded by JPMorgan Chase Bank and J.P. morgan Securities, which is providing INVESTools a senior secured term loan of $125M.
Top NewsWednesday, September 20, 2006
INVESTools Buys thinkorswim For $340M