.jpg)
Virtu Financial, Inc. (NASDAQ: VIRT) today said it completed its acquisition of KCG Holdings, Inc. (NYSE: KCG) on Thursday, July 20, in a cash transaction valued at $20.00 per KCG share, or a total of approximately $1.4 billion.
“The leadership of both firms have worked tirelessly to develop a seamless integration plan to apply Virtu’s leading edge technology, risk management and rigorous cost discipline to KCG’s tremendous client franchises. We are excited to combine two exceptionally talented workforces to execute and deliver on this plan,” said Douglas Cifu, Virtu Financial Inc. Chief Executive Officer.
As previously announced, Mr. Cifu will continue to serve as Virtu’s Chief Executive Officer and Joseph Molluso will continue to serve as Virtu’s Chief Financial Officer. As of the close of the transaction, Virtu’s board of directors has been expanded to include two additional board members. Bob Greifeld, formerly the CEO of NASDAQ, has been appointed Chairman and will serve on the board’s newly formed Strategy Committee along with fellow new appointee Glenn Hutchins, co-founder of Silver Lake Partners.
Founder and outgoing Chairman, Vincent Viola, will continue to serve on Virtu’s board of directors and Nominating and Corporate Governance Committee, and will also serve as Founder and Chairman Emeritus and on Virtu’s new Strategy Committee.
