Knight Capital Group Inc. (NASDAQ: NITE) announced Tuesday that it will acquire mortgage company Urban Financial Group Inc., according to Associated Press.
Financial terms of the deal were not disclosed.
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Urban Financial originates direct and brokered home mortgages. It's one of the country's major providers of reverse mortgage loans.
Knight Capital said the deal still needs regulatory approval. If it receives that, the acquisition will begin boosting the company's earnings per share in 2010.
Knight Capital shares closed at $16.02 Monday.
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