TP ICAP plc (LSE:TCAP) acquired SCS Commodities Corp. for $12 million on January 8, 2018. The consideration for the transaction is an initial payment in cash of $8 million, and further performance related amounts, also in cash, will be made at various dates over the next 5 years. Post deal, SCS will become part of TP ICAP's energy and commodities division. The amount of deferred contingent consideration is dependent upon the performance of the business over the three year period and has a fair value estimated to be $4 million. The primary SCS partners, responsible for generating revenues, will stay on board and continue to develop the business. The estimated fair value of the net assets acquired were $1 million.

TP ICAP plc (LSE:TCAP) completed the acquisition of SCS Commodities Corp. on January 8, 2018.