PowerShares Capital Management LLC is selling to Amvescap PLC for $60 million. The amount paid could as much at triple based on incentive clauses.
I visited this company just two weeks ago in their new office in sleepy Wheaton, Illinois. You could sense an excitement from the employees as assets have skyrocketed in the past two years.
Amvescap PLC, a London-based financial company who also owns and distributes the AIM mutual funds, obviously sees the value of making a mark in the fast growing ETF marketplace.
PowerShares, a leading provider of exchange-traded funds, manages $3.5 billion in assets. The company released details of the deal earlier today.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.