20 04 2016

Ally Financial acquires TradeKing for $275 Million

Cooley is advising fintech company TradeKing Group on its sale to financial services company Ally Financial for approximately $275 million.


The sale is expected to close in the third quarter of 2016. This acquisition positions Ally to further capitalize on emerging market trends, drive growth and diversify its revenue stream. TradeKing consists of companies with a singular focus on helping the independent investor succeed. TradeKing Securities, a member of FINRA and SIPC, is TradeKing's flagship online broker/dealer for self-directed investors looking for a modern trading experience on any device at a simple, low price. TradeKing's client assets are worth approximately $4.5 billion. The company, led by Donato A. Montanaro Jr., Richard J. Hagen Jr., Thomas A. Desmond, Kevin Delo and Brian Overby, is based in Florida. The Cooley team advising TradeKing includes Kevin Mills (Picture), Derek Colla, Kerry Killeen, Paris Waterman, Dave Walsh, Stacy Crosnicker, Lesse Castleberry, Stephanie Gentile, Jackie Grise and Megan Browdie. Involved fees earner: Kevin Mills - Cooley LLP; Derek Colla - Cooley LLP; Kerry Killeen - Cooley LLP; Megan Browdie - Cooley LLP; Jacqueline Grise - Cooley LLP; Lesse Castleberry - Cooley LLP; Stacy Crosnicker - Cooley LLP; David Walsh - Cooley LLP;

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