United Asset Management Corp. said it has agreed to purchase a 49% stake in Toronto-based Integra Capital Management Corp.
Integra is a provider of investment management services to Canadian defined-benefit and defined-contribution plans.
The Boston-based investment management firm, a federation of 50 semi- autonomous firms, is an active acquirer. It already owns a 49% stake in the Canadian company Lincluden Management Ltd., which manages half of Integra's current funds.
United Asset did not disclose the terms of the Integra deal in last week's announcement, but a spokesman said it would be accounted for as a cash transaction.
The deal is expected to close next year.
Commenting on synergies in the deal, the spokesman said, "They have a chance to expand their investment choices from within UAM." Integra also wants to use the record keeping software of InvestLink, a United Asset affiliate, he added.