 "Wealth management firm 360 ONE acquires ET Money for Rs 366 crore")
360 ONE WAM, a leading wealth management firm, has entered into a definitive agreement to acquire Times Internet’s wealth advisory platform ET Money for Rs 366 crore. The acquisition will be done partly in cash and partly via share swap deal.
“The acquisition will aid in completing the flywheel across client segments for 360 ONE,” the company said in a stock exchange filing.
ET Money has 900,000 transacting clients with more than 100,000 revenue-generating users. It tracks an overall AUM of Rs 70,000 crore.
The platform has gross monthly sales of over Rs 1,200 crore, with SIPs amounting to Rs 450 crore monthly and MF net flows of nearly Rs 750 crore per month.
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