NAGA Group Receives Regulatory Approval for Merger with CAPEX.com

The merger between financial technology company NAGA Group and global multi-asset brokerage CAPEX.com has seen a new development. NAGA Group has received regulatory approval for merging with CAPEX.com's company Key Way Group Ltd. The merger of these two entities is an important consolidation in the financial sector and may even become a game-changer.

The merger between NAGA and CAPEX.com kicked off last December. Late last year, CAPEX.com, along with its founder and CEO Octavian Patrascu, contribute $15 million in equity into the joint venture, with shareholders led by Patrascu holding about 75% of the combined entity.

The merger received overwhelming support at an Extraordinary General Meeting of the Shareholders in April of this year, with the vote showing 99.81% in favor.

"I am truly excited about this union as in today's market, consolidation can help accelerate our roadmap, objectives and give us the dimension needed for true innovation," commented Octavian Patrascu, CEO of the merged entity. "NAGA and CAPEX.com have a multitude of synergies and that is why I am confidently investing my own money in this transaction. I believe we can reach our targets and am ready to embrace this new challenge to set a new benchmark in the industry."