FXCM to Sell FXCM Japan to Rakuten Sec for $62 Million

imageWednesday's announcement by FXCM Inc. that it was selling FXCM Japan Securities Co., Ltd to Rakuten Securities, Inc., a top 5 FX broker in Japan ,sent FXCM shares soaring by more than 8% in the pre-market session. The purchase price was approximately $62 million.

FXCM shares recently gained $0.18 to $2.25. In the past 52 weeks, shares of the New York-based firm have traded between a low of $1.28 and a high of $17.44.

The sale is expected to be sealed on April 1, 2015 and the final purchase price will be based on FXCM Japan's March 31, 2015 balance sheet.

"?We are pleased to announce this transaction with Rakuten Sec, as they are an innovative and strong firm," said in a statement Drew Niv, CEO of FXCM. "?We are confident that they will provide the same level of excellent service and trading environment that our account holders have experienced at FXCM."

FXCM Inc. is a leading provider of online Forex and CFD trading, spread betting and related services. FXCM Holdings, LLC has been listed among the fastest growing companies by Inc. 500 List of America's Fastest Growing Companies three years in a row.

Rakuten Securities Inc. is a Japanese electronic commerce and Internet company based in Tokyo, Japan. It was formerly known as DLJdirect SFG Securities Inc. and as a result of its acquisition by Rakuten, Inc. in 2003, the name was changed to Rakuten Securities, Inc. Since 2012, it has been ranked among the world's 'Top 20 Most Innovative Companies' in Forbes magazine's annual list.

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