Knight Capital Will Purchase Astor Asset Management For $20

Knight Capital NITE, the electronic market maker, will acquire Astor Asset Management for $20 million in cash and stock. Astor is a privately held money manager that specializes in the use of ETFs. The 13-employee company has about $560 million in assets under management, including assets in separately managed accounts and the Astor Long/Short ETF Mutual Fund, according to Bloomberg News. The deal is expected to close in the fourth quarter and will add to Knight Capital's earnings in 2011.