KCG Holdings (KCG) Announces Completion of Neonet Securities Acquisition

September 15, 2016 6:17 AM EDT

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KCG Holdings, Inc. (NYSE: KCG) announced that it has completed the acquisition of Neonet Securities AB ("Neonet"), an independent agency broker and execution specialist based in Stockholm, Sweden. The Neonet business, which will operate as a subsidiary of KCG and be renamed KCG Neonet, will continue to be based in Stockholm and led by CEO Tim Wildenberg.

KCG Neonet is well-positioned to provide clients with a robust set of global execution services and capabilities, leveraging KCG's expanded foothold in continental Europe and the significant expertise and sophisticated technologies of both businesses.

Philip Allison, Chief Executive Officer of KCG Europe Limited, said, "Neonet's talented team of specialists and commitment to client service make them an ideal strategic partner for KCG as we expand our European presence and offerings. Neonet is at a terrific place in its trajectory, and we look forward to capitalizing on exciting opportunities as a combined business."

Mr. Wildenberg said, "This is an exciting new chapter for Neonet's business and one that will meaningfully and quickly benefit every one of our clients. By putting Neonet and KCG together, we will be able to offer a broader set of global offerings and execution solutions, backed by a deeper range of expertise and skillsets from both firms."

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