NAGA Group has successfully completed its merger with Key Way Group, the parent company of CAPEX.com, aiming to enhance its global footprint and achieve up to €9 million in annual cost savings. This merger, which received regulatory approvals within six weeks, expands NAGA’s user base to approximately 1.5 million users across over 100 countries. The merger will leverage common technology across the combined group to streamline operations and reduce costs. The integration of CAPEX.com’s users into the NAGA ecosystem is expected to introduce them to a comprehensive range of services, including social trading, neo-banking, and cryptocurrency trading. CEO Octavian Patrascu expressed excitement about the potential for growth and synergies, despite recent revenue declines and net losses for NAGA in the previous year.
Financial Technology (FinTech), Investment and Brokerage,Global, Germany
https://mergersacquisitions.einnews.com/article/739330647/B-LH8w6IKlH6Y-A5?ref=rss&ecode=Q1vNcweEggLWKz7L