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.
AUTHOR
Laura Dew
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