Charles Schwab to Acquire Forge Global for $660 Million
San Francisco, Thursday, 6 November 2025.
In a strategic move to enhance client access to private markets, Charles Schwab plans to acquire Forge Global for $660 million, offering a 72% premium per share.
Strategic Acquisition to Enhance Market Position
Charles Schwab Corporation (SCHW) has announced its intention to acquire Forge Global Holdings Inc. (FRGE), a platform specializing in private share transactions, for approximately $660 million. This acquisition represents a strategic move by Schwab to expand its offerings in the burgeoning private markets sector, responding to increasing investor demand for access to high-growth startups that remain private longer than before [1][2][3].
Details of the Deal
The agreement, which values Forge Global at a premium of 72% over its last closing price, is set to close in the first half of 2026, subject to regulatory approval. The per-share price of $45 marks a significant premium over Forge’s recent trading price, reflecting Schwab’s confidence in Forge Global’s market potential and technology for trading private company shares [1][3][4].
Implications for the Private Markets
This acquisition aligns with a broader trend among major financial institutions to enhance their offerings in private equity markets. Companies such as OpenAI and SpaceX exemplify the type of high-valuation, private firms that remain outside public markets, driving demand for platforms like Forge Global. By acquiring Forge, Schwab aims to position itself as a leader in providing clients with opportunities to invest in these lucrative sectors [1][4][5].
Future Prospects and Market Reactions
Following the announcement, Forge Global’s stock surged 65% in premarket trading, indicating strong market confidence in the deal and the potential for future growth. The acquisition is part of Schwab’s strategy to integrate Forge’s technology into its existing platforms by the second quarter of 2026, thereby enhancing its service offerings and strengthening its competitive position in financial services [2][3][6].