Abrdn is in advanced talks to buy Finimize, an investment information platform, to increase the asset manager’s digital capabilities, according to a report.
Finimize charges tens of thousands of people £60 a year for investment tips. A deal could be signed as early as this week, Sky News reported. No price details were available, Sky said.
The deal will be part of Abrdn boss Stephen Bird’s push to build a simplified business with stronger digital services for personal and institutional clients, Sky said. The deal will create a windfall payout for Max Rougagha, Finimize’s chief executive.
Finimize’s daily newsletter has more than 1 million subscribers and the business is likely to operate independently after the deal completes, Sky said.
Abrdn shares fell 0.9% to 256.6p at 09:05 BST.
