Aberdeen Asset Management has completed the deal to buy US-listed Artio Global Investors for a sum of $179.7 million, based on a price of $2.75 per share, following the firm’s announcement in February.

The total sum of the acquisition represents a premium of $46.3 million over Artio's unaudited net asset value, as of March 31, 2013.

Artio managed assets of approximately $10.6 billion as of May 17, including a $9.2 billion fixed income business that involved total return bond and global high yield strategies, and a $1.4 billion international and global equities business. Both will come under control of Aberdeen’s global equity investment process.    

The acquisition was made in an effort to expand Aberdeen’s business in the US, deepen its distribution network in the region and add to its existing fixed income capabilities, the firm said in a statement.

"This acquisition is in line with Aberdeen's strategy of undertaking infill acquisitions that will assist with growing our business organically. We believe this will benefit our North American business, a region we view as a key growth market for Aberdeen,” said Martin Gilbert, chief executive of Aberdeen.

“We warmly welcome the high grade and high yield fixed income teams from Artio as they continue to manage the Aberdeen Total Return Bond Fund and Aberdeen Global High Income Fund and we particularly look forward to bringing our knowledge and experience of investing to the international and global equity fund shareholders,” he said.

As of March 31, 2013, Aberdeen managed assets of $322 billion on behalf of institutional and private investors.