Amplify ETFs Doubles Product Line with Agreement To Acquire ETF Managers Group’s Exchange-Traded Funds
The transaction covers over $3.5 billion in ETF assets expanding Amplify ETFs’ income, thematic, and core offerings.
LISLE, Ill. and SUMMIT, N.J., June 12, 2023 (GLOBE NEWSWIRE) — Amplify ETFs and ETF Managers Group (ETFMG) announced today a definitive agreement under which Amplify ETFs will acquire ETFMG’s exchange-traded funds (ETFs) lineup. In addition to complementing Amplify ETFs’ current suite of income, thematic, and core ETFs, this acquisition will double its offerings and provide investors access to many first-to-market, innovative, and transformational trends through an expanded thematic lineup.
“ETFMG has created an impressive roster of strategies and we are excited to acquire its ETFs 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. “We look forward to expanding the access and awareness of this compelling and differentiated product set.”
“We have long admired Amplify and its products,” said ETF Managers Group Founder and CEO Sam Masucci. “I am proud of the work our team has done over the last 11 years. ETFMG has built a reputation for bringing innovative first-to-market thematic ETFs to investors and looks forward to their continued growth under the Amplify umbrella.”
The transaction is expected to close later this year pending necessary approvals, including requisite Fund Boards and ETF shareholder approvals. Terms of the deal were not disclosed.
Oppenheimer & Co served as the exclusive financial advisor to Amplify ETFs in this transaction. Vedder Price is acting as legal counsel to Amplify ETFs. Rockefeller Capital Management served as the exclusive financial advisor to ETF Managers Group in this transaction. King & Spalding LLP is acting as legal counsel to ETF Managers Group.
About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $4.2 billion in assets across its suite of ETFs (as of 5/31/2023). Amplify believes the ETF structure empowers investors through efficiency, transparency, and flexibility. Amplify ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies. To learn more about Amplify ETFs, please visit amplifyetfs.com
About ETFMG
ETFMG is a provider of ETFs, founded in 2012 with a vision of developing innovative thematic ETFs that provide investors unique exposure to new markets. Today, the ETFMG fund lineup provides access to a diverse collection of global themes and is comprised of 75% first-to-market products. We turn portfolio management strategies into successful ETFs by partnering with market segment experts to bring long-term growth opportunities to investors. ETFMG funds are proof of the power of the ETF wrapper and that thematic products can have a place in investors’ portfolios. To learn more about ETFMG and our portfolio of exchange-traded funds, please visit www.etfmg.com.
Amplify ETFs Media Contact:
Kerry Davis
Gregory FCA
610-228-2098
amplifyetfs@gregoryfca.com
ETFMG Media Contact:
Deborah Kostroun
Zito Partners
(201) 403-8185
deborah@zitopartners.com
