M&A Deal Summary

Scotia Bank Acquires E*TRADE Canada

On July 14, 2008, Scotia Bank acquired internet software and services company E*TRADE Canada from ETrade for 442M USD

Acquisition Highlights
  • This is Scotia Bank’s 1st transaction in the Internet Software and Services sector.
  • This is Scotia Bank’s 2nd largest (disclosed) transaction.
  • This is Scotia Bank’s 1st transaction in Canada.
  • This is Scotia Bank’s 1st transaction in Ontario.

M&A Deal Summary
Date 2008-07-14
Target E*TRADE Canada
Sector Internet Software and Services
Buyer(s) Scotia Bank
Sellers(s) ETrade
Deal Type Divestiture
Deal Value 442M USD

Target

E*TRADE Canada

Toronto, Ontario, Canada
E*TRADE Canada is a provider of online brokerage services in Canada.

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Buyer(S) 1

Buyer

Scotia Bank

Toronto, Ontario, Canada
Category Company
Founded 1832
Sector Financial Services
Employees89,090
Revenue 31.8B CAD (2023)
DESCRIPTION
Scotiabank branch in London, Ontario.
Scotiabank branch in London, Ontario.

Scotia Bank offers personal, commercial, corporate and investment banking products and services through global team of more than 75,000 Scotiabankers. Scotia Bank was incorporated in 1832 and is based in Toronto, Canada.

DEAL STATS #
Overall 1 of 7
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 3
State (Ontario) 1 of 2
Country (Canada) 1 of 2
Year (2008) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-27 The Royal Bank - Chilean Business

Chile

The Royal Bank of Scotland N.V - Chilean Business comprises corporate and commercial banking operations.

Buy -

Seller(S) 1

SELLER

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 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-14 Cake Financial

San Francisco, California, United States

Cake Financial Corp. is a site where you could import your investment data from multiple brokerages and share that information with other users.

Buy -
Mergr

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