EQS News: The NAGA Group successfully merges with Key Way Group Page 1

EQS News: The NAGA Group AG / Keywords: Mergers & Acquisitions/Merger
The NAGA Group successfully merges with Key Way Group

29.08.2024 / 17:45 CET/CEST
The publisher is solely responsible for the content of this communication.

The NAGA Group successfully merges with Key Way Group

Positive EBITDA effect from synergies of up to EUR 9.0 million (previously announced as USD 10.0 million) per year
Organizational changes completed
Technology migration to the NAGA ecosystem delivers new features and expanded services while increasing the lifetime value of existing CAPEX.com users

Hamburg, 29 August 2024 – The NAGA GROUP AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the all-in-one financial SuperApp NAGA, has successfully completed the strategic merger with Key Way Group Ltd., as announced in December last year, within only approximately six weeks after receipt of all regulatory approvals. As such, the resolution of the Extraordinary General Meeting of April 12, 2024 was implemented as planned at the end of August 2024. All organizational changes had already been completed with effect from August 21.

The merger of NAGA and CAPEX.com has created one of the world’s leading neo brokers with approximately 1.5 million users in over 100 countries. The migration of existing users from Key Way Group’s trading platform CAPEX.com to the NAGA ecosystem will begin in the coming days. As a result, existing CAPEX users can now enjoy a host of new features and extensive service improvements that clearly differentiate the NAGA app from its competitors.

The NAGA Group expects that the migration of CAPEX.com users to its own platform, as well as other operational and licensing synergies, will generate total cost savings of up to EUR 9.0 million (previously announced as USD 10.0 million) per year. As a first step, the use of common technology for all the Group’s users is expected to generate a positive EBITDA impact of approximately EUR 4.0 million per year for the Group as the migration becomes effective in the coming months. Further efficiency gains are to be achieved in the areas of regulatory overheads, staff and trading costs, and customer acquisition costs. The offering of features such as social trading, neo banking and crypto trading will increase the lifetime value of existing CAPEX.com users and thus the profitability of The NAGA Group.