PNC buys Chadds Ford firm

PNC Financial Services Group Inc. today said it bought Coates Analytics Group L.P., Chadds Ford, to help expand the offerings of its Wilmington-based subsidiary PFPC Worldwide Inc.

The price was not disclosed. Coates was founded in 2003 and employs nine.

Coates's Web-based products are designed to help asset managers connect with financial advisors, brokers and mutual fund companies.

A spokesman for PFPC said Coates works with seven of the 10 largest broker/dealers, 40 of the top 100 financial servies companies, and 60 top asset management firms.