Forge, the marketplace for trading private company shares formerly known as Equidate, announced that it will be acquiring custodial trust company IRA Services for a purchase price of $55 million.

IRA Services is a trust company that provides custodial services for retirement accounts managed by individuals and mid-to-large sized Institutions. Stripped of financial jargon, the primary function of a custodian is to hold on to (or maintain “custody” of) its clients’ securities and keep them safe from potential external complications such as theft or otherwise.

Many custodians, like IRA Services, also provide administrative services such as collecting the actual dividend payments made to the owner of a stock, and advisory services such as helping clients understand what they can and should invest in.

Since its

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