Interactive Investor to be acquired by abrdn for £1.5bn

Retail investment platform Interactive Investor is set to be acquired by investment manager abrdn for £1.5 billion.

abrdn is an Edinburgh-based investment and wealth manager, with £532 billion of assets under management globally.

Interactive Investor said it is the UK’s second largest DIY investment platform, with assets under administration approaching £55 billion and over 400,000 customers.

The transaction will see abrdn acquire 100 per cent of Interactive Investor’s share capital, including that owned by its majority shareholder JC Flowers.

Interactive Investor said it will continue to operate on its existing technology platform post-transaction.

In addition, Interactive Investor said it will continue to operate as a standalone business and independent brand within abrdn. Chief executive Richard Wilson will continue to lead it through the next phase of its development, under abrdn’s ownership.

The transaction is subject to regulatory and anti-trust approvals, as well as abrdn shareholder approval.

Interactive Investor said it is currently expected that the transaction will complete in the second quarter of 2022.

“This is an exciting new chapter in our history and means that we can focus exclusively on serving those who matter most: our customers,” said Richard Wilson, chief executive of interactive investor. “We will have access to abrdn’s additional capabilities across research, advice and wealth management services, and 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.”

He added: “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.”

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