By Daniel Lanyon on Tuesday 9 November 2021
The asset management giant recently bought financial publisher Finimize and Nucoro's Exo Investing platform and is now looking to buy the UK’s second-largest digital share brokerage.
Asset managment giant Abrdn, formerly known as 'Aberdeen' is continuing its hunt for fintech aqquisations with a new bid for Interactive Investor.
The company confirmed it's looking to buy Interactive Investor, the UK's second-largest D2C brokerage (and portfolio holding of Augmentum Fintech). yesterday. That follows on from news last week that it had swooped on Finimize and its deal to buy Exo Investing from Nucoro earlier this year. A buying spree is underway.
Abrdn, which manages or administers £450bn of assets for various clients was founded in the mid 1980s by, among others, Revolut's chairman Martin Gilbert.
Under its new CEO Stephen Bird, who has been in the job for just a year, Abrdn is clearly looking to fintech companies to speed up its digitalisation journey via acquisitions.
“The acquisition of Finimize by abrdn further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors. Finimize’s vision to empower smarter investors is a perfect fit for the group,” Stephen Bird, CEO of Abrdn, added.