Bravura acquires UK fintech company for $41m
Bravura has acquired UK pensions software company Delta Financial Systems for $41 million, broadening its growing range.
Delta provided technology to pension administrators in the UK market for 30 clients and Bravura said it was forecasted to achieve revenue growth in the range of 20%-30%.
The acquisition was expected to be completed by the end of October 2020 subject to regulatory approval.
Michael Power, chief executive of Delta, said: “Bravura is a leader in the UK wealth management marketplace and Delta’s products sit perfectly alongside Bravura’s offering. The Delta management team look forward to working together with Bravura to deliver outstanding service to both Bravura and Delta’s clients.
“We are delighted that Delta is joining Bravura. Both businesses have complementary products that together provide a compelling offering to support the mission-critical operations of wealth management firms in the UK,” said Tony Klim, chief executive of Bravura.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.