LONDON (Reuters) – British money manager M&G said on Wednesday it has taken a minority stake in digital wealth manager Moneyfarm as part of a broader partnership.
M&A will use Moneyfarm’s technology, digital capabilities and investment guidance to back its own branded proposition.
The finance details of the deal were not disclosed, but a source with knowledge of the transaction told Reuters that the funding round values Moneyfarm at between 300 and 350 million pounds ($473 million).
($1 = 0.7407 pounds)
(Reporting by Andres Gonzalez, editing by John O’Donnell)
