INTL FCStone Inc. agreed to acquire the brokerage business of Tellimer Group, a company providing access, execution and research to institutional investors, corporates and governments.
The deal involves the purchase of Exotix Partners LLP, Tellimer Capital Ltd. (Nigeria) and the broking business of Tellimer Markets Inc. The acquisition price, which was not disclosed in the news release, is not material to INTL FCStone.
Tellimer's research will be distributed to customers of INTL FCStone as part of the deal, the closing of which is subject to limited conditions, including regulatory approval. Once the transaction is completed, Tellimer will continue to provide research, research distribution, technology, analytics and advisory services from London, New York, Dubai, Singapore, Nairobi in Kenya and Lagos in Nigeria.