The anticipated deal between BlackRock and Barclays Global Investors has been finalized, and it includes the popular line of iShares exchange traded funds (ETFs).

The deal went through for $13.5 billion, and the new company will be renamed as BlackRock Global Investors, reports Joe Morris for Ignites. Barclays, meanwhile, will take a 19.9% stake in BlackRock and both the CEO and president of Barclays will take seats on BlackRock’s board.

The deal makes BlackRock a juggernaut, with nearly $3 trillion in assets. This puts it ahead of other giants, such as State Street and Fidelity.

The deal also works out well for Barclays. By selling the unit, it will gain financial strength it’s needed since beginning to lag behind rivals that accepted aid from the government, reports Michael J. de la Merced for The New York Times.

Barclays originally had a deal with CVC Capital Partners, but a clause on the contract allowed Barclays to continue to solicit other offers until June 18. CVC had until the end of the day on Thursday to make a counteroffer.

Investors shouldn’t expect too many changes to the lineup of iShares ETFs and I’d think that BlackRock would allow them to remain autonomous. I don’t see any reason why this transition wouldn’t be a smooth one. In fact, now that such a giant is behind them, perhaps the ETFs will have more resources and gain even more focus as the ETF industry continues to change and grow.