EO, the online share distribution platform for retail investors, is to buy arch-rival Epo.com in the hope that the combined company will attract the big investment banks into partnership deals.

Neither EO, which already has a partnership agreement with UBS Warburg, nor Epo.com would disclose the terms of the acquisition, which is an all-share deal valuing EO shares at £1.50 (€2.5) apiece. The £1.50 EO share price values the company at £68m (€112.5m) based on its last fund-raising.