IG Group plans to acquire Australian crypto exchange Independent Reserve at an initial valuation of $117 million

Source: odaily2 hour ago

According to Odaily Planet Daily, FTSE 250 listed company IG Group announced its intention to acquire Australian crypto exchange Independent Reserve at an initial valuation of $117 million. IG will reportedly pay approximately $72 million for an initial 70% stake in the cryptocurrency exchange, with the purchase price increasing to $82 million if the exchange achieves its performance targets for the 2026 fiscal year. The group also holds call options to purchase the remaining 30% stake based on performance in 2027 and 2028. (The Block)

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