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Abrdn to buy online platform Interactive Investor for £1.5bn
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Abrdn has struck a £1.5bn deal to buy the online investment platform Interactive Investor, as the fund manager pushes into the increasingly popular realm of web-based trading.
Abrdn, which was known as Standard Life Aberdeen until a vowel-averse name change earlier this year, said it was acquiring a fast-growing business that added 46,000 customers last year, excluding acquisitions, taking the total above 400,000.
The business was purchased from the majority shareholder, JC Flowers, a US private equity firm, which controlled Interactive Investor via a holding company, Antler Holdco, registered in Guernsey.
The move heralds a significant expansion by Abrdn into direct investment. Firms such as Interactive Investor and its rival Hargreaves
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