Amplify ETFs to acquire investment fund

LISLE - Amplify ETFs said Monday it will double its financial offerings with an agreement to acquire the exchange-traded funds lineup of ETF Managers Group.

ETF Managers Group is based in Summit, New Jersey. Financial terms of the acquisition agreement were not disclosed.

In addition to complementing Amplify ETFs' current suite of income, thematic and core investment funds, this acquisition will provide investors access to many first-to-market, innovative trends through an expanded thematic lineup, Lisle-based Amplify said.

"ETFMG has created an impressive roster of strategies and we are excited to acquire its (exchange-traded funds) as these strategies align well with our commitment to being at the forefront of ETF industry growth and innovation," said Christian Magoon, CEO and Founder of Amplify ETFs.

The transaction is expected to close later this year pending necessary regulatory and shareholder approvals.