Mirae Asset Global Investments and its New York-based subsidiary, Global X ETFs, have completed the acquisition of ETF Securities, Australia’s independent ETF provider.
The acquisition provides an opportunity for Mirae Asset and Global X to bolster its operation in the Australian market.
As part of the deal, ETF Securities will gain access to Mirae Asset and Global X’s resources and expertise.
Byungsung Lee, chief executive of Mirae Asset Global Investments, said: “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.
“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.”
The financial terms of the deal were undisclosed.
