Amplify ETFs said Monday it will double its financial offerings with an agreement to acquire the exchange-traded funds lineup of Summit-based ETF Managers Group.
Terms of the deal were not disclosed.
In addition to complementing Amplify ETFs’ current suite of income, thematic and core ETFs, this acquisition will double its offerings and provide investors access to many first-to-market, innovative and transformational trends through an expanded thematic lineup.
“We have long admired Amplify and its products,” ETF Managers Group founder and CEO Sam Masucci said. “I am proud of the work our team has done over the last 11 years. ETFMG has built a reputation for bringing innovative first-to-market thematic ETFs to investors and looks forward to their continued growth under the Amplify umbrella.”
“ETFMG has created an impressive roster of strategies, and we are excited to acquire its ETFs, as these strategies align well with our commitment to being at the forefront of ETF industry growth and innovation,” Christian Magoon, founder and CEO of Amplify ETFs, said. “We look forward to expanding the access and awareness of this compelling and differentiated product set.”
The transaction is expected to close later this year, pending necessary approvals, including requisite fund boards and ETF shareholder approvals.
Oppenheimer & Co. served as the exclusive financial adviser to Amplify ETFs in this transaction. Vedder Price is acting as legal counsel to Amplify ETFs. Rockefeller Capital Management served as the exclusive financial adviser to ETF Managers Group in this transaction. King & Spalding LLP is acting as legal counsel to ETF Managers Group.
