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Interactive Investor to buy EQi in latest acquisition

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Advertising agency firm Mission Group said it is traded in line with lowered expectations outlined late last year, as it steams ahead with its turnaround plan
Advertising agency firm Mission Group said it is traded in line with lowered expectations outlined late last year, as it steams ahead with its turnaround plan

Interactive Investor (II) is close to announcing the purchase of EQi, a division of Equiniti, a FTSE-250 support services group.

The direct-to-consumer share platform has agreed to pay in the region of £50m for EQi, Sky News reported this weekend.

II is the second largest direct to consumer platform in the UK, behind Hargreaves Lansdown.

This year II more than doubled the number of new customers using the platform. In February, it reached an agreement to acquire The Share Centre, in a cash and shares deal worth around £61.9m.

The platform has reportedly traded well throughout the pandemic.

According to Sky News it is rumoured II will float on the London Stock Exchange this year.  

CityAM has contacted Interactive Investor and Equiniti for comment.