(RTTNews.com) – Invesco Ltd. ( IVZ ) said that it has entered into a definitive agreement to acquire Guggenheim Investments’ exchange-traded funds or ETF business for $1.2 billion in cash. The business includes $36.7 billion of assets under management, as of August 31, 2017.
The transaction will be funded using a combination of cash and debt. The transaction is expected to close in the second quarter, pending necessary third-party approvals, including certain regulatory matters and requisite ETF board and ETF shareholder approvals.
With the addition, Invesco’s ETF assets under management would total more than $196 billion globally as of August 31, 2017.