Plus500 Ltd. (PLUS.L), a multi-asset fintech company, said on Monday that it has conditionally agreed to acquire the Indian trading firm, Mehta Equities Limited, for around $20 million, which will be funded from the acquirer's cash on hand.
David Zruia, CEO of Plus500 said: "We are thrilled to announce this acquisition in India, which marks a significant milestone in our global expansion strategy. By combining Plus500's cutting-edge technology with Mehta's local presence and expertise, we aim to accelerate growth and unlock new opportunities in this dynamic and fast-growing market."
Founded by Rakesh Mehta in 1995, Mehta has expanded its operations to include futures, options, and cash equities brokering business, portfolio management services, investment banking, and others.
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