E-Trade Group, the Menlo Park, Calif.-based discount brokerage firm, said Tuesday that it is buying TIR Holdings Ltd., an internationally focused brokerage.

The deal, valued at $122 million, has a number of strategic benefits for the retail-focused Internet broker and will give it access to a large institutional client base for the first time.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.