M&A Deal Summary

TD Ameritrade Holding Acquires TD Waterhouse USA

On June 22, 2005, TD Ameritrade Holding Corp. acquired financial services company TD Waterhouse USA from The Toronto-Dominion Bank for 2.9B USD

Acquisition Highlights
  • This is TD Ameritrade Holding’s 2nd transaction in the Financial Services sector.
  • This is TD Ameritrade Holding’s 2nd largest (disclosed) transaction.
  • This is TD Ameritrade Holding’s 2nd transaction in the United States.

M&A Deal Summary

Date 2005-06-22
Target TD Waterhouse USA
Sector Financial Services
Buyer(s) TD Ameritrade Holding Corp.
Sellers(s) The Toronto-Dominion Bank
Deal Type Divestiture
Deal Value 2.9B USD

Target

TD Waterhouse USA

United States
TD Waterhouse USA is a provider of electronic brokerage services to retail investors.

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Buyer(S) 1

Buyer

TD Ameritrade Holding Corp.

Omaha, Nebraska, United States

website


Category Company
Founded 1971
SectorFinancial Services
Employees9,226
Revenue 5.4B USD (2018)
DESCRIPTION
TD Ameritrade's corporate headquarters in Omaha, Nebraska.
TD Ameritrade's corporate headquarters in Omaha, Nebraska.

TD Ameritrade Holding Corp. is a provider of securities brokerage services and related technology-based financial services to retail investors, traders and independent registered investment advisors. TD Ameritrade provides its services predominantly through the Internet, a national branch network and relationships with RIAs. TD Ameritrade was established in 1971 and is based in Omaha, Nebraska.


DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 2 of 3
Type (Divestiture) 1 of 1
Country (United States) 2 of 4
Year (2005) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-09 Datek Online Holdings Corp.

Iselin, New Jersey, United States

Established in 1998, privately held Datek Online Holdings Corp. is one of the fastest-growing financial services companies in the United States and through affiliates provides swift access to financial services through innovative technology. The Company’s primary businesses are Datek Online Brokerage Services LLC, a pioneer in the online brokerage industry; iClearing LLC, a securities clearing operation; and Watcher Technologies, a provider of cutting-edge trading systems for the professional trading industry.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-07 thinkorswim, Inc.

Chicago, Illinois, United States

thinkorswim, Inc. is a provider of professional-level trading software, asset management and trade execution services for the options industry.

Buy $606M

Seller(S) 1

SELLER

The Toronto-Dominion Bank

Toronto, Ontario, Canada

website


Category Company
Founded 1855
SectorFinancial Services
Employees90,000
Revenue 43.3B CAD (2020)
DESCRIPTION
TD Bank branch in Bangor, Maine.
TD Bank branch in Bangor, Maine.

TD Bank and its subsidiaries are collectively known as TD Bank Group (TD or the Bank). TD is a large bank North American bank serving customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank was founded in 1855 and is based in Toronto, Canada.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-26 TD Banknorth, Inc.

Cherry Hill, New Jersey, United States

TD Banknorth Inc. is a banking and financial services company headquartered in Cherry Hill, New Jersey and a majority-owned subsidiary of TD Bank Financial Group.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-02 Commerce Bancorp Inc.

Cherry Hill, New Jersey, United States

Commerce Bank is a retailer of financial services with almost 460 convenient stores in Metropolitan New York, Metropolitan Philadelphia, Metropolitan DC and Southeast Florida. Commerce Bancorp is headquartered in Cherry Hill, New Jersey.

Buy $8.5B