M&A Deal Summary

ETrade Acquires HARRISdirect

On August 8, 2005, ETrade acquired financial services company HARRISdirect from BMO Financial for 700M USD

Acquisition Highlights
  • This is ETrade’s 1st transaction in the Financial Services sector.
  • This is ETrade’s 3rd largest (disclosed) transaction.
  • This is ETrade’s 2nd transaction in the United States.
  • This is ETrade’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2005-08-08
Target HARRISdirect
Sector Financial Services
Buyer(s) ETrade
Sellers(s) BMO Financial
Deal Type Divestiture
Deal Value 700M USD

Target

HARRISdirect

Jersey City, New Jersey, United States
HARRISdirect LLC is a provider of a retail banking products and solutions.

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Buyer(S) 1

Buyer

ETrade

New York City, New York, United States
Category Company
Founded 1982
Sector Financial Services
Employees4,105
Revenue 2.9B USD (2018)
DESCRIPTION
E*TRADE Financial office branch in downtown Chicago, Illinois.
E*TRADE Financial office branch in downtown Chicago, Illinois.

E*TRADE Financial Corp. is a financial services company that provides online brokerage, investing, and related banking solutions. E*TRADE Financial was founded in 1982 and is based in New York, New York.

DEAL STATS #
Overall 2 of 5
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 2 of 5
Year (2005) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-25 Card Capture Services

Portland, Oregon, United States

Card Capture Services, Inc. is a provider of turnkey automated teller machine (ATM) packages, which enable merchants to take advantage of the growth in the use of off-premises ATM machines.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-29 BrownCo

Boston, Massachusetts, United States

BrownCo LLC is a provider of an online brokerage services.

Buy $1.6B

Seller(S) 1

SELLER

BMO Financial

Chicago, Illinois, United States
Category Company
Founded 1984
Sector Financial Services
DESCRIPTION

BMO Financial Corp provides banking, lending, investing, and wealth management solutions to personal, business, and corporate clients.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 3
State (New Jersey) 1 of 1
Country (United States) 1 of 3
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 BMO Capital Markets GKST

Chicago, Illinois, United States

BMO Capital Markets GKST, Inc. is a a provider of brokerage services.

Buy -
Mergr

Product

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