Bravura acquires FinoComp
Publicly-listed financial services technology company, Bravura Solutions has announced yet another acquisition – this time UK-focused software firm, FinoComp for $25 million.
Bravura announced to the Australian Securities Exchange (ASX) today that it had acquired FinoComp, an Australian software company that builds unique, registry-agnostic software to support the UK wealth market.
The announcement said FinoComp’s clients included firms such as Aegon and Nucleus.
It said the acquisition deepened Bravura’s technical capabilities and created significant cross-sell opportunities between FinoComp and Bravura clients.
“Further revenue opportunities are also possible by expanding FinoComp’s software to adjacent markets and geographies in the future, including financial advice, funds administration and private client wealth management.”
It said FinoComp has 35 employees in Australia and the UK.
Recommended for you
As ASIC chair Joe Longo pushes firms to prepare for the upcoming mandatory climate disclosure regime, what skills are necessary if firms are looking to expand their ESG teams?
First Sentier Investors has announced it will close four of its Australian investment teams amid a simplification of the business, with $14 billion expected to be returned to investors.
Over 90 finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards, to be held in Sydney on 13 June.
Clients may be asking their adviser whether there is still value in the US technology names after their rally, but Fidelity International’s Lukasz de Pourbaix believes they can still offer upside.
