Robinhood to Acquire TradePMR for $300M in Strategic Expansion

2 hours ago

Robinhood to Acquire TradePMR for $300M in Strategic Expansion
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7 Highlights

  • Robinhood to buy TradePMR in a $300M cash-and-stock deal.
  • Deal expected to close by the first half of 2025.
    • Acquisition aligns with Robinhood's service provider strategy.
    • TradePMR links clients with registered investment advisers (RIAs).
    • RIAs market valued at $7 trillion; adds growth potential.
    • Robinhood expands with credit card, desktop platform launches.
    • Citi and Lazard acted as financial advisers for the deal.
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