US online investment company Etrade has acquired Sharedata to strengthen its position in the corporate market.
Etrade will issue 1.3 million shares of stock to buy Sharedata, which sells software and services for managing stock option plans. Etrade has previously concentrated on individual investors and had to offer more services to ward off strong competition from around 70 other online investor sites. Its latest deals were with AOL (VNU Newswire, 7 July) and a joint venture with UK financial services company ESI to offer real-time trading over the Internet (VNU Newswire, 12 June).
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