Discount broker E-Trade Financial announced yesterday that it would acquire Massachusetts-based asset manager Kobren Insight Management for an undisclosed amount.

The deal, which came just 24 hours after the online giant scooped up rival HarrisDirect for $700 million in cash, advances E-Trade's wealth management business and transforms the company into a full-service financial services firm. E-Trade officials said they expect the deal to contribute close to $10 million in revenues and $2.3 million in net income in 2006.

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