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Rager

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Tuesday, 01/24/2006 7:10:53 AM

Tuesday, January 24, 2006 7:10:53 AM

Post# of 6651

NITE - Knight Capital to Acquire HotSpot FX
Tuesday January 24, 6:57 am ET
Knight Capital to Acquire Electronic Forex Platform HotSpot FX in $77.5 Million Deal


NEW YORK (AP) -- Market maker Knight Capital Group Inc. on Tuesday said it will acquire privately held foreign-exchange electronic trading platform Hotspot FX Inc. in a deal worth about $77.5 million in cash.
The Jersey City, N.J.-based company said the acquisition is expected to be completed within 90 days. At the close of the transaction, Hotspot FX will operate as a subsidiary of Knight Capital Group.

The deal is expected to add to earnings in 2007, and is not expected to impact Knight's 2006 projection for earnings, excluding items. The acquisition is expected to be cash-flow positive immediately following the closing.



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