Private equity firm Teleo Capital Management has acquired global wealth management software solution provider TechRules for an undisclosed sum.
TechRules will be merged with Teleo-owned Univeris, a fellow wealth management software provider.
Based in Madrid, Spain, TechRules provides front office financial software solutions for retail and personal banking, private wealth managers, fund managers, asset and portfolio managers, independent financial advisers and family offices across Europe, North America, and Latin America.
Jaime Bolivar, managing partner at TechRules, said: “Our products are highly complementary. We are excited to expand our footprint globally, especially in North America.
“Together with Univeris, we look forward to bringing products and services to market that meet our customers’ evolving requirements through innovation and continuous improvement.”
Carmine Tullio, president and chief executive of Univeris, said that the firm “is on an aggressive growth path to building a best-in-class wealth management SaaS platform to meet the technological demands of our global customer base”.
He added: “By combining TechRules and Univeris into one platform, we will provide clients with improved productivity, increased operational efficiency, and reduced costs.”
