Victory Capital Holdings, Inc. (NasdaqGS:VCTR) will look for acquisitions. David Brown, Chairman and Chief Executive Officer said, "In addition, since we are not using cash or debt as consideration, the incremental earnings will significantly reduce our leverage ratio and provide significant additional strategic and capital flexibility. This will allow us to continue reinvesting in our business to drive organic growth.

It will also provide us more financial wherewithal as we pursue future acquisition prospects and increase the return of capital to shareholders. Following closing, we will have an even larger and more robust U.S. distribution capability. This, combined with our exclusive access to one of the largest and most effective international distribution networks in the industry, will position us even more attractively as the acquirer of choice for high-performing investment organizations".