eToro agrees to buy TradeZero for up to $231 million as equities drive Q2 growth
60-second summary
eToro agrees to buy TradeZero for up to $231 million, marking a significant expansion in its offerings. The acquisition is driven by eToro's Q2 growth, with net contribution rising 9% year-over-year to $229 million, primarily fueled by a surge in equities trading. This move is expected to strengthen eToro's position in the growing online trading market.
Net contribution rose 9% year-over-year to $229 million, driven mainly by stronger equities trading, according to a statement.