UK - Threadneedle has agreed to acquire Invesco Perpetual's defined contribution (DC) business for £470m (US$929m).
Ian Trevers, head of distribution, Invesco Perpetual, said: "It provides our clients access to a greater range of funds on the Threadneedle platform, access to additional services on-line and will allow Threadneedle's clients access to our investment capability."
Threadneedle has promoted Rita Butler-Jones to head of DC, to replace Emma Douglas who moved to BlackRock in the summer of 2007.
Madeline Forrester, head of distribution, Threadneedle, said: "With DC pensions set to dominate future pension provision, we look forward to playing a key role in the sector's development."
The deal would give clients access to a broader range of funds, improved systems and member communication, according to both parties.
In 2004, Invesco opted to sell its bundled DC platform to focus on fund management.
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