Online Broker Flatex Agrees to Buy Dutch Rival Degiro

German online trading firm Flatex AG agreed to buy Dutch rival Degiro BV for 250 million euros ($278 million) in a bid to create one of Europe’s largest independent internet brokerages.

Flatex will buy 100% of Amsterdam-based Degiro using a mix of cash and shares, it said in a statement Friday, confirming an earlier Bloomberg News report.

Reaching a deal with Degiro, which is owned by its founders, is set to help Flatex scale up and reap synergies from combining technology platforms. The merged company would have more than 700,000 clients in countries across Europe.

“Flatex and Degiro are planning ...