Abrdn to buy Interactive Investor in £1.5bn deal
By Michele Maatouk
Date: Thursday 02 Dec 2021
(Sharecast News) - Asset manager Abrdn has agreed to buy subscription-based investment platform Interactive Investor for £1.49bn in cash.
As part of the deal, Richard Wilson, the chief executive officer of II, will join abrdn and continue to lead the firm, which will operate as a standalone business within abrdn's personal vector.
Abrdn CEO Stephen Bird said: "This is a unique opportunity and a transformative step in delivering our growth strategy. Interactive Investor is the UK's number one subscription-based investing platform with a powerful reputation as a consumer champion.
"Abrdn's scale, resources, and shared vision will enable interactive investor to grow confidently and expand its leadership position in the UK's attractive savings and wealth market. I am delighted that Richard Wilson and his team will continue to lead interactive investor."
The deal is expected to be double-digit earnings accretive in the first full financial year after completion, Abrdn said.
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