ING Direct USA, a part of Netherlands-based ING, has completed its acquisition of ShareBuilder, a privately-held Seattle-based online financial services company.
The acquisition which is part of ING Direct’s latest step toward meeting the financial needs of Main Street, US, will add cost-effective, simple investment options to ING Direct’s consumer product offerings, which currently include online savings and checking accounts, CDs, mutual funds and mortgages.
Through this transaction, ING Direct, through its broker-dealer subsidiary ING Direct Securities, has acquired 100% of ShareBuilder’s outstanding equity-related interests, including its subsidiary ShareBuilder Securities.
Arkadi Kuhlmann, president and CEO of ING Direct, commented: ING Direct has empowered savers with great value, ease of transactions and unmatched customer service.
Now, with the addition of ShareBuilder we can provide customers a low-cost, easy to understand way to invest on a regular basis. Both Companies share a mission to enable Main Street America to build and manage their wealth in a straightforward manner.
Dan Greenshields, president and CEO of ShareBuilder, said: These are two companies who are committed to their customers and the financial health and well-being of those customers. Both ING Direct and ShareBuilder provide financial products and services that are simple, easy-to-understand, and accessible for mainstream America.