Equisoft, a Canadian global digital solutions provider to financial industry businesses, has acquired the investment management solutions provider Altus.
Based in the UK, Altus offers digital products and services to over 150 clients and financial institutions. The company serves the life and pension, insurance, investment, and wealth sectors.
A company release said that the deal adds a seventh international location for Equisoft. 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 UK pension transfer market and makes us a strong contender in the European market,” said Equisoft founder and CEO Luis Romero. “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.”
“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 founder and managing director Kevin Okell.
Okell also noted that Altus recently invested in the UK fintech startup Finscape, a business analytics platform for the investment industry. Following that deal, Altus was looking for a partner that “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,” Okell commented.
