NewMedia Spark, Europe's largest publicly-traded internet investment company, will acquire GlobalNet Financial.com in a share deal that values the US-based financial website operator at $13.8m (€16.0m).

NewMedia Spark will pay 1.88 of its shares for each share of GlobalNet common stock and 0.188 shares for Class A common stock, equivalent to 55 cents and 5.5 cents per share, respectively. Collins Stewart is advising NewMedia on the acquisition. NewMedia will wind down and dispose of GlobalNet's operating businesses, which include the UL-iNvest website, after the acquisition. The company will instead take on GlobalNet's invested portfolio in a number of unlisted internet companies such as EO, an organiser or online IPOs.