Janus Capital Group has agreed to acquire VS Holdings Inc., the parent company of VelocityShares LLC, said Janus spokesman Peter MacKellar.
The transaction includes an initial upfront payment of $30 million and is expected to close in the fourth quarter.
VelocityShares was founded in 2009 and specializes in institutionally-focused exchange-traded funds. It is headquartered in Darien, Conn., and is managed by Nick Cherney, Richard Hoge and Steve Quinn. It employs 11 people and raised $2 billion in assets in 21 funds as of Sept. 30.
Mr. MacKellar did not have any additional details about the transaction at press time.