Windsor Drake Market Intelligence
Transaction · Wealthtech · 2020

Morgan Stanley / E*Trade 2020

Morgan Stanley acquired E*Trade for $13B on February 20, 2020.

Target
E*Trade
Acquirer
Morgan Stanley
Deal value
$13B
Announced
February 20, 2020
Sub-sector
Wealthtech

Transaction overview

  • Morgan Stanley announced the acquisition of E*Trade on February 20, 2020 for $13B.

Strategic rationale

Morgan Stanley acquires online brokerage E*Trade, adding a direct-to-consumer digital wealth and self-directed trading platform.

Deal terms & multiples

Deal value
$13B
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
February 20, 2020
Acquirer
Morgan Stanley (Strategic)
Sub-sector
Wealthtech

Sources

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