Abrdn has announced plans to acquire 100 per cent of Interactive Investor. The deal currently stands at £1.49bn, subject to shareholder approval.
Interactive Investor is a leading subscription-based platform within the UK direct investing market, with over 400,000 customers and AUA of approximately £55 billion. As part of the acquisition, Richard Wilson, CEO of Interactive Investor, will join Abrdn and continue to lead interactive investor, which will operate as a standalone business within Abrdn’s Personal vector.
Stephen Bird, Chief Executive Officer of Abrdn plc commented:
“This is a unique opportunity and a transformative step in delivering our growth strategy. Firstly, Interactive Investor is the UK’s number one subscription-based investing platform with a powerful reputation as a consumer champion. Also, 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 very happy that Richard Wilson and his team will continue to lead Interactive Investor.”
Richard Wilson, Chief Executive Officer of Interactive Investor Limited commented:
“This is an exciting new chapter in our history and means that we can focus exclusively on serving those who matter most: our customers. We will have access to Abrdn’s additional capabilities across research, advice and wealth management services, so we will benefit from being part of one of Europe’s largest investment and wealth management firms, with a vision and values closely aligned to our own.
Our management will remain the same, and the same extraordinary team will continually develop our service and technology, while maintaining our subscription pricing, our whole of market choice and the same campaigning spirit and editorial independence.”
Abrdn was born in 2017 as a result of the merger between Standard Life and Aberdeen Asset Management.
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