Federated Investors has agreed to acquire fund manager MDT Advisers for up to $240 million.

A division of MDTA in Cambridge, Mass., MDT Advisers is a quantitative manager of about $300 million in mutual fund assets, and is also the advisor to approximately $6.8 billion in separately managed and institutional accounts. The transaction would add a significant quantitative element to Federated investment strategy, which currently leverages a blend of quantitative and fundamental analysis, said J. Christopher Donahue, president and CEO of Federated.

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