Software provider Bravura Solutions will acquire UK-based pension administration technology firm Delta.
The M&A deal is worth up to £23m ($29m, €25m).
Delta provides technology to power complex pension administration in the UK market, especially for Sipps and Ssas, including drawdown options.
It currently has more than 30 clients in the country.
The deal is expected to complete by the end of October 2020, subject to regulatory approvals.
Expansion
Following the acquisition, Bravura will broaden its product suite and offering, and provide its services to Delta’s client base as well.
Tony Klim, chief executive at Bravura, said: “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.”
Michael Power, chief executive and co-founder of Delta, added: “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’s clients and Delta’s clients.”
