US-based asset manager VanEck has agreed to acquire a majority stake in Think ETF Asset Management, a Dutch ETF issuer managing around €1.5bn in assets, for an undisclosed amount.

VanEck bought the stake from Think’s former owners BinckBank and Flow Traders as well as its senior management.

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Amsterdam-based Think was founded in 2008. The company currently has 14 ETFs in its portfolio including equities, corporate and government bonds.

Following completion of the deal, which is expected in the first quarter of 2018, Van Eck will almost fully own Think. However, the senior management of Think will retain a minority stake in the company.

As part of the deal, BinckBank’s Vincent Germyns and Flow Traders’ Dennis Dijkstra will quit Think’s supervisory board.

The transaction marks VanEck’s expansion into Netherlands, thereby expanding its core European reach.  The firm already has presence in Germany, Switzerland, UK, and Italy.

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At present, VanEck has six UCITS-ETFs in Europe, which will increase to 20 after the deal.

VanEck CEO Jan van Eck said: “ETFs have seen significant uptake from the investment community in Europe over the past several years, and there are events on the horizon that appear likely to spur an even greater migration of assets to the ETF structure in European markets. As this unfolds, we are very excited to bring the Think team and their innovative product offerings into the VanEck fold.

“We are pleased to add Think’s ETF offerings, together with its knowledge and experience, as we continue to build on our efforts in Europe.”