ETF Securities has been acquired by Mirae Asset and Global X ETFs for an undisclosed sum.
The firms said the acquisition provided an opportunity for Mirae Asset and Global X to add instant scale in the Australian market. They also said ETF Securities’ product line-up of thematic, commodities and digital assets complemented their offerings.
The acquisition brought Mirae’s assets under management to $85 billion.
“We are incredibly excited to enter the Australian market and to meaningfully expand our global ETF footprint through the acquisition of ETF Securities’ inventive business,” said Byungsung Lee, chief executive of Mirae Asset Global Investments.
“This acquisition underscores Mirae Asset’s continued commitment to maintaining industry-leading ETF businesses in key markets around the world and brings immediate scale to our operations in Australia.”
