Independence Investment Associates has reached an agreement to acquire Boston International Advisors. Terms weren't disclosed. Boston International will become a wholly owned subsidiary of Independence, which itself is a subsidiary of John Hancock.
Lyle H. Davis, president of Boston International, said the firm will operate under a new name to be decided later. He said the decision to sell was a result of the trend favoring larger investment management organizations. Boston International has about $2.2 billion under management in international equities; Independence, about $20 billion, all domestic.
