Financial services software company, IRESS has acquired research software provider O&M Systems in the UK which provides pension and investment data comparison tools to financial advisers.
Established in 1992, O&M had over 2,000 clients comprised of pension and platform providers and advice business.
O&M would directly integrate into Iress’ Xplan software and was immediately available to IRESS’ clients, as well as continuing as a standalone research service.
Andrew Walsh, IRESS chief executive, said O&M was a strong business with established clients and software that was a strategic addition to their advice software.
“Integrating O&M into Xplan will provide advisers with a powerful, combined advice and research solution,” Walsh said.
Graham Miller, O&M Systems managing director, said he was confident their clients, providers and team would benefit from IRESS’ broad expertise.
“The integration with Xplan will enable us to grow our offering to a wider market whilst we maintain our commitment to providing accurate comparisons, comprehensive data analysis, client facing reports and great customer service to our existing user based established over the last 28 years,” Miller said.
The transaction was not market sensitive and had been simultaneously settled and completed.