The PNC Financial Services Group, Inc. announced today it signed a definitive agreement to acquire Lawrenceville, N.J.,-based Albridge Solutions Inc., a provider of portfolio accounting and enterprise wealth management services.

Albridge provides financial advisors with consolidated client account information from hundreds of data sources, including mutual funds, managed accounts, banking, brokerage, insurance, retirement and more. Its client base numbers 150 financial institutions and more than 100,000 financial advisors with assets under management exceeding $1 trillion.

The Albridge acquisition is expected to bolster the offerings of PFPC Worldwide Inc., Pittsburgh-based PNC's provider of global investment services. PFPC is a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers subaccounting, transfer agency, managed account, alternative investment, fund accounting, administration and custody services, representing more than $2.5 trillion in total assets.

According to PNC's press release, upon the deal's closing the wealth of advisor information available from PFPC will provide asset managers and distributors with deeper insight into the advisor segments they are targeting.

Financial terms of the agreement were not disclosed. Subject to normal closing conditions and appropriate regulatory approvals, the acquisition is expected to close before the end of the first quarter of 2008. The acquisition is expected to be minimally dilutive in 2008 and turning accretive in 2009.