Equisoft acquires UK-based financial services firm Altus
By Megha Bhattacharya
Equisoft, a global digital solutions provider to the financial industry, announced the acquisition of U.K.-based financial services firm Altus. Located in Bath, U.K., Altus‘ suite of products and market penetration adds to Equisoft’s product portfolio and expands its presence within the financial services space with a transaction platform for pension administrators and asset managers.
Financing of the acquisition was secured through partnerships with Export Development Canada, Fondaction and BMO Bank of Montreal.
”The new combined expertise of Equisoft and Altus positions us to lead the U.K. pension transfer market and makes us a strong contender in the European market”, commented Luis Romero, Equisoft’s founder and CEO. ”Joining the forces of both companies, each founded on entrepreneurial values, will allow us to better serve our clients by automating complex back-office processes across the investments value chain. These include investment portfolio transfers, pension fund trading, pension payroll and tax reporting.” added Mr. Romero.
”As we got to know Equisoft’s team, we became increasingly confident this would be a perfect marriage of two technology firms, both committed to transforming financial services with quality software and solutions, and sharing the benefits across clients, staff and communities,” added Altus co-founder and Managing Director, Kevin Okell. ”Given our substantial recent investment in UK Fintech startup Finscape, a business analytics platform for the investment industry, Altus was looking for a partner who understood its enormous potential and the critical role it could play in the investment value chain. Equisoft grasped this immediately, committing to further investment in the product and to expanding its geographic coverage.”
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