(August 28 – 16:45 ET) – E*Trade Group Inc. today said it completed the $258 million takeover of Versus Technologies Inc., a provider of electronic securities trading services for institutional and retail investors and owner of the E*Trade Canada license.

The estimated value of the deal is based on an exchange rate of C$1.4843 and a share exchange ratio of 0.724757 E*Trade shares for each Versus share.

Versus investors can take E*Trade stock or exchangeable shares of a
Canadian subsidiary of E*Trade.

The company is expected to be renamed E*Trade Canada Ltd. and
operate as a wholly owned subsidiary.

– IE Staff