GlobalNet Finacial.com has already teamed up with Dixons to create UK-iNvest.com, an online financial news and information service on Freeserve's money channel. The latest move will see the high-street retailer provide online financial services for more than one million customers. Following the 13 percent stake, reported to be worth £15 million, in the Nasdaq-listed company Dixons plans to offer online share dealing towards the end of this year.
The deal is the first step Dixons' strategy to offer a whole slew of Cyber services from mortgages to independent financial advise.
Shares in the electrical retailer come ISP have soared on the back of its Internet ventures. Eight months ago, shares in the company traded at £6.00. The GlobalNet deal boosted share value to more than £12.00.
Despite analysts' doubting Dixons claims of one million-plus users, the company has seen considerable growth of its free ISP offering. The company admitted last month that it was considering floating a small stake of Freeserve.