07:40 AM EDT, 10/22/2024 (MT Newswires) -- BGC Group ( BGC ) said Tuesday that it has agreed to acquire OTC Global Holdings to expand and diversify its global energy, commodities, and shipping business.

The company said it expects to acquire OTC Global in a "substantially all-cash" transaction but did not disclose further financial details.

OTC Global is an independent institutional energy and commodities brokerage firm with operations across North America, Europe and Asia, BGC said.