Interactive Investor Agrees to Buy Alliance Trust Savings from Alliance Trust Plc

LONDON and DUNDEE, Scotland, October 22, 2018 /PRNewswire/ --

• The acquisition brings together the two largest fixed price investment platforms  
• Creates a platform with £35bn of AUA, 400,000 customers, and more than 1m users 
• Creates scale benefits for both sets of customers in an increasingly technology-driven sector  
• ATS customers will benefit from ii's: 
  • Best value pricing in the UK for portfolios over £50,000
  • UK's best international dealing service offering twice the choice of other platforms across multiple currencies 
  • Award-winning original content, insights and news delivered through best in class technology, products and services  
  • Financial and operating strength of a focused long-established UK investment platform 

Interactive Investor ("ii" or "the Company"), the UK's second largest investment platform, has agreed to acquire Alliance Trust Savings ("ATS"), from Alliance Trust PLC, for a total consideration of £40m subject to post completion adjustments, and includes Alliance Trust's office building in Dundee, where ATS is based. The transaction brings together the two largest fixed price retail investment platforms, combining the content and digital capabilities of ii with ATS' well-established adviser business and its investment trust heritage.

ii is committed to championing informed investment choice and value for its customers. In an increasing technology and data-driven environment, increased scale will support ii's sustained investment in technology and talent, enabling the provision of the best customer experience and service in the sector.

ii is majority owned by JC Flowers and currently has £90m of net assets, with assets under administration ("AUA") of £20 billion and more than 300,000 customer relationships. On completion of the transaction, this is expected to increase to £35 billion of AUA and 400,000 customers. Both ii and ATS customers will benefit from ii's increased scale, financial strength and profitable business model. By leveraging ii's growing scale and financial strength the Company will be well placed to make further investment in technology, products, staff and customer services.