Online investment services company E*Trade Group Inc is set to broaden its business into central Europe following the signing of a licensing agreement. The Palo Alto, California organization has struck the deal with two German companies, Berliner Freiverkehr Group and New York Broker Group. Under the terms of the agreement E*Trade Central Europe Inc will be established, which will then set up subsidiaries for each company covered in the deal. The first country to get a new subsidiary will be Germany, followed by Poland, Hungary, the Czech Republic and Croatia. Berliner Freiverkehr and New York Group will both be entitled to use the E*Trade name, its product line and technology. E*Trade will take a stake in the new company and receive licensee and possibly royalty revenues.
