Business Combination

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Business Combination

10. Business Combination

On April 10, 2015, the Company made an investment of approximately $4.8 million for a majority ownership position in ETF Issuer Solutions (“ETFis”), then subsequently renamed  ETFis to Virtus ETF Solutions (“VES”). VES is a New York City-based company that operates a platform for listing, operating, and distributing exchange-traded funds. The transaction was accounted for under Accounting Standards Codification (“ASC”) 805 “Business Combinations.” Goodwill of $1.4 million and other intangible assets of $2.4 million were recorded as a result of this transaction. The impact of this transaction was not material to the Company’s condensed consolidated financial statements.