Foreign exchange affiliate Investoo Group has purchased 100ForexBrokers.com in a deal that the company said represents its largest acquisition to date.
Terms of the agreement were not disclosed, but Investoo said in a statement that the purchase will extend its reach into the Forex market.
100ForexBrokers.com launched in 2012 and is regarded as one of the world’s biggest Forex broker comparison sites with more than 60,000 unique visitors each month.
Adam Grunwerg, chief executive of Investoo, said: “This acquisition generates a huge boost to our company revenues and user base.
“We aim to capitalise on the 100ForexBrokers.com acquisition by improving its existing commercial arrangements, adding new languages and launching a new mobile-responsive version of the website.
“The acquisition also extends our existing reach into the Forex trading industry alongside our educational platform, Investoo.com, and Forex signals service, SnipetheTrade.com.”
Upon confirming the deal, Investoo also revealed that it has also completed the acquisition of Forex and binary options education training service and YouTube channel TradingAxis.com.
David Merry, chairman of the board at Investoo, added: “We are actively looking for partnerships with players in the industry which can add value to our portfolio of websites.
“A key part of our growth strategy is building a comprehensive online trading educational package and acquisitions allow us to do that at a much faster pace.”
