San Antonio-based TTC Holdings, Inc. signed a definitive agreement with Overland Park, Kansas-based Waddell & Reed Investment Management Co. to acquire San Antonio-based Austin Calvert & Flavin, Inc., a registered investment advisor with approximately $470 million in assets under management.

Terms of the deal were not disclosed.

According to Charlie Wade, Vice Chairman and CEO of TTC Holdings, current management and staff at Austin Calvert & Flavin will remain intact.

The Carson Medlin Company served as financial advisor to TTC Holdings, Inc.