Source: iFinix
iFinix (Other OTC:INIX.PK), a provider of real-time financial information and services to active traders and to the securities industry, announced today it has signed an agreement to acquire privately held ProActive Futures, Plainview, NY, a futures and options brokerage firm, in an all-cash transaction.
Founded in 2002, ProActive Futures is a full-service futures and options brokerage firm, specializing in trading commodity futures. It offers access to major futures and commodities exchanges and markets across the world. ProActive will operate as a subsidiary of iFinix and under the name IFinix Futures.
The acquisition is expected to be immediately accretive to iFinix's earnings.
Doug Spadaro, chief executive officer of iFinix, said, "We are excited to expand into this segment in the industry. ProActive has an excellent track record in commodities future trading and an excellent established customer base.
"In addition to the additional positive revenue stream," he said, "the acquisition expands our product offerings and brings greater brand awareness for iFinix through ProActive's broad customer base. We look forward to continuing to announce more exciting developments to our shareholders in the near future."