IG Group Acquires Independent Reserve for £86.8M

IG Group Holdings plc has finalized an agreement to purchase Independent Reserve, Australia's prominent cryptocurrency exchange, in a strategic move valued at A$178.0 million (£86.8 million) that positions the FTSE 250 financial services provider for accelerated growth across Asia Pacific digital asset markets.

The acquisition announcement Friday represents a calculated expansion of IG Group's crypto strategy, providing immediate operational access to established cryptocurrency trading infrastructure serving both Australian and Singaporean markets. Independent Reserve's platform facilitates trading across 34 digital assets, accommodating retail investors and institutional clients through multiple currency options.

Deal Structure Details

The transaction framework involves an initial 70% stake acquisition worth A$109.6 million (£53.4 million), with IG Group excluding approximately A$8.4 million (£4.1 million) in expected surplus cash holdings. Performance-linked payments include an additional A$15.0 million (£7.3 million) contingent upon fiscal year 2026 results.

IG Group has secured call options for the remaining 30% ownership based on Independent Reserve's performance metrics during fiscal years 2027 and 2028, creating a structured pathway toward complete acquisition.

Financial Performance Metrics

Independent Reserve demonstrated robust financial momentum with A$35.3 million (£17.7 million) in revenue for the twelve months ending June 30, 2025, marking an impressive 88% year-over-year growth trajectory. The platform maintained approximately 11,600 average monthly active customers throughout this period, indicating strong user engagement and market penetration.

Strategic Regional Expansion

Matt Macklin, Managing Director of Asia Pacific & Middle East at IG Group, characterized the acquisition as a pivotal advancement in the company's cryptocurrency market positioning within a strategically important region. The move aligns with IG Group's broader digital asset trading platform development across multiple jurisdictions.

This acquisition reinforces IG Group's recent organic cryptocurrency expansion efforts, including the May 2025 launch of spot crypto trading services in the United Kingdom featuring 35 available coins. Additionally, the company's tastytrade platform in the United States has expanded to support 23 cryptocurrency options while enabling stablecoin account funding capabilities.

Financial Projections

IG Group anticipates the Independent Reserve acquisition will generate cash earnings per share accretion within the first complete financial year following transaction closure. The company projects achieving returns on invested capital exceeding the Group's weighted average cost of capital during the three-to-five year timeframe post-acquisition.

Regulatory Timeline

Transaction completion remains subject to obtaining necessary regulatory approvals from authorities in Singapore and Australia, with IG Group expecting final closure during early 2026. This regulatory approval process reflects standard compliance requirements for cryptocurrency exchange acquisitions across both jurisdictions.

About IG Group: IG Group Holdings plc is a FTSE 250 financial services company specializing in online trading platforms, offering CFDs, spread betting, and digital asset trading services to retail and institutional clients across multiple global markets.