Robinhood to buy U.K. crypto platform Ziglu in effort to expand internationally

As part of its efforts to expand internationally, Robinhood Markets (NASDAQ:HOOD) on Tuesday has agreed to acquire Ziglu, a U.K.-based electronic money firm and crypto platform, according to a blog post.
Terms of the deal were not disclosed.
For the long-term, Robinhood (HOOD) will integrate Ziglu "more fully" to expand operations beyond the U.K. into Europe, the company noted.
“Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts,” said Vlad Tenev, CEO and co-founder of Robinhood. “Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”
Towards the end of March, Morgan Stanley analyst Michael Cyprys initiated Robinhood (HOOD) with an Equalweight rating as its underpenetrated total available market yields potential user growth.
Previously, (Aug. 10, 2021) Robinhood agreed to buy Say Technologies for $140M.