Acquisitions

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Acquisitions

Acquisitions

There were no acquisitions completed by the Company during both the three months ended March 31, 2025 and 2024.

OTC Global

On October 22, 2024, the Company announced that it had executed a definitive agreement to acquire OTC Global.

Sage

On October 1, 2024, the Company completed the acquisition of Sage, an energy and environmental brokerage firm.

Total Consideration

The total consideration for all acquisitions during the year ended December 31, 2024 was approximately $87.3 million, subject to post-closing adjustments, which includes cash, restricted shares of BGC Class A common stock, and an earn-out payable in cash and restricted shares of BGC Class A common stock. The excess of the consideration over the fair value of the net assets acquired has been recorded as goodwill totaling $35.6 million.

Except where otherwise noted, the results of operations of the Company’s acquisitions have been included in the Company’s unaudited Condensed Consolidated Financial Statements subsequent to their respective dates of acquisition. The Company has made preliminary allocations of the consideration to the assets acquired and liabilities assumed for Sage, as of the acquisition date, and expects to finalize its analysis with respect to the acquisition within the first year after the completion of the transaction. Therefore, adjustments to preliminary allocations may occur.