Ameritrade Completes Acquisition of Tradecast.Business Editors & Technology Writers OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb.--(BUSINESS WIRE)--April 4, 2001 Ameritrade Holding Corporation (Nasdaq:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ), the brokerage industry's technology leader, today announced the completion of its acquisition of TradeCast Ltd. The acquisition was announced February 14, 2001. "We are demonstrating acquisition integration as a key competitive strength," said Jim Ditmore, chief information officer of Ameritrade. "By rapidly bringing this acquisition to a close we are maximizing the return on our investment for our shareholders. TradeCast's foothold in the business-to-business marketplace greatly enhances and diversifies our sources of revenue. The next step will be to roll out the advanced technologies of Ameritrade and TradeCast to both our B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business partners and active individual investor segment." Ameritrade plans to offer the combined functionality of TradeCast and Ameritrade's services later this spring, including clearing to the B2B professional segment. TradeCast, based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , will operate as a subsidiary of Ameritrade Holding Corporation. The all-stock transaction represented 7.5 million shares of Ameritrade stock exchanged for all of the outstanding ownership interest of TradeCast. At the time of the completed acquisition, the transaction was valued at approximately $40 million. "When you look at the market of direct access providers, you see our due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. paid off," said Ditmore. "We identified a partner in TradeCast who provides the direct access and advanced functionality we sought, for a price that makes sense for our shareholders." About Ameritrade Holding Corporation Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online brokerage industry with a 25-year history of providing customers a self-directed approach to brokerage services. The award-winning Company, through its broker/dealer subsidiaries, provides brokerage and clearing services to self-directed individual consumer investors and to financial institutions. About TradeCast TradeCast (www.tradecast.com) pioneered direct-access online stock trading. The Houston-based company developed the first "point-and-click" trading software enabling (programming) software enabling - (Or "enabling") Modification of the design or implementation of software to allow internationalisation to take place. In particular, enabling may refer to the modification of software to support double-byte character sets, hence "Unicode individual equity traders to trade stocks online and was the first company to tie directly into the NASDAQ SOES SOES See: Small Order Execution System SOES See Small Order Execution System (SOES). mainframe computer in a Windows(R) format. TradeCast's software allows traders to "Go Direct(TM)" by executing trades through TradeCast Securities, Ltd., a licensed broker/dealer, member NASD/SIPC. This document contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events or the future performance of the company. Various factors could cause actual results to differ materially from those anticipated. Readers of this document are advised to check the documents filed by the company with the Securities & Exchange Commission, including Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q for descriptions of risks and uncertainties related to forward-looking statements. |
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