On November 19, 2024, Robinhood Markets, Inc. announced its agreement to acquire TradePMR, Inc.
Robinhood Markets, Inc. (“Robinhood”) announced, on November 19, 2024, that it has entered into an agreement to acquire TradePMR, Inc. (“TradePMR”). Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. The acquisition is expected to close in the first half of 2025. Further terms of the deal were not disclosed.
Robinhood (Nasdaq: Hood), based in Menlo Park, California, is a financial services company providing an electronic trading platform that facilitates commission-free trades of stocks, exchange-traded funds and cryptocurrency. As of October 2024, Robinhood had approximately $152.2 billion in assets under custody. Citi served as exclusive financial advisor to Robinhood.
TradePMR, based Gainesville, Florida, is a custodial and portfolio management platform for Registered Investment Advisors. As of November 2024, TradePMR had approximately $40 billion in assets under administration. Lazard Inc. served as exclusive financial advisor to TradePMR.
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