Financial services group London Capital Plc has strengthened its spread betting operations with the acquisition of Gibraltar company FuturesBetting.com.

Financial services group London Capital Plc has strengthened its spread betting operations with the acquisition of Gibraltar company FuturesBetting.com.

The £200,000 deal was funded by London Capital, a provider of a range of online trading services. Up to the same value has been deferred depending on performance in the next three years.

Gibraltar law firm Cruz & Co, existing adviser to London Capital, acted on all areas of Gibraltar law and tax.

The acquisition was led by senior partner Nick Cruz with assistance from commercial partner Paul Borge and management specialist Paul Crudgington.

Cruz said: “Specific areas of expertise in this transaction included advising on Gibraltar company law and tax, labour law, gaming licence and regulation matters, concerning both the Gibraltar Government and the Financial Services Commission.”