10:34 AM EST - Great-West Lifeco Inc. : Said its subsidiary Empower Retirement today announced it has entered into an agreement to acquire Personal Capital for up front consideration of $825 million U.S., and deferred consideration of up to $175 million U.S. subject to achievement of target growth objectives. Empower, the second largest Defined Contribution (DC) record keeper in the U.S. based on the number of participants, is an important growth platform for Lifeco in both the retirement and retail wealth management markets. Personal Capital is a hybrid wealth manager that combines a leading-edge digital experience with personalized advice delivered by human advisors. The combination will bring together Empower's leading retirement plan services and integrated financial tools, and Personal Capital's rapidly growing, digitally oriented personal wealth management platform. Great-West Lifeco Inc.
shares T.GWO are trading up $0.18 at $23.46.
