The acquisition provides Equisoft with strategic product capabilities and complementary expertise within the European financial services market
PHILADELPHIA, PA, and BATH, U.K., July 5, 2021 /PRNewswire/ - Equisoft, a leading global digital solutions provider to the financial industry, is proud to announce the acquisition of U.K.-based financial services firm Altus. Located in Bath, U.K., Altus' suite of products and deep 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.
Altus occupies an enviable position in the U.K.'s Life and Pension, Insurance, Investment and Wealth sectors, providing digital products and services to over 150 clients and financial institutions. This acquisition reinforces Equisoft's position within the financial services space as a leader in digital transformation solutions.
''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.
Altus and Equisoft display a tremendous cultural fit when it comes to a shared vision of customer-focused and business-driven innovation, mutually reinforcing their respective market-leading and specialized consulting expertise.
''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."
Equisoft is excited to welcome the entire Altus team as the company continues to exhibit substantial growth in regions around the world.
Financing of the acquisition was secured through partnerships with Export Development Canada, Fondaction and BMO Bank of Montreal.
About Equisoft Founded in 1994, Equisoft is a global provider of advanced insurance and investment digital solutions. Recognized as a valued partner by over 100 of the world's leading financial institutions in 15 countries, Equisoft offers innovative front-end applications, extensive back-office services and unique data migration expertise. The firm's flagship products include a SaaS policy administration solution, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle's largest and most experienced partner for the OIPA platform. With its business-driven approach, deep industry knowledge, innovative technology, and more than 600 experts based in Canada, USA, Chile, Colombia, South Africa, India and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption. For more information about our products and services, please visit www.equisoft.com
About Altus Altus was founded in 2005 with a mission to speed up financial services with superior technology. Altus supplies specialist consultancy services and market-leading automation software to over 150 clients in the investment, pensions, insurance and wealth management sectors. Altus employs 90 people and is based in Bath. Altus software has been ISO 27001 accredited since 2017. For more details about our products and services, please visit www.altus.co.uk.
About Fondaction A forerunner in sustainable finance for the past 25 years, Fondaction brings together individuals and companies that are mobilizing for the positive transformation of society, taking action to make Québec's economy more equitable, inclusive, green and successful. As a labour-sponsored fund, Fondaction represents tens of thousands of investors and hundreds of businesses committed to stimulating Québec's progress. It manages net assets of more than 2.96 billion dollars invested in hundreds of businesses and on the financial markets, favouring investments that generate positive economic, social and environmental spinoffs in addition to a financial return. Fondaction helps create and maintain jobs and reduce inequalities while contributing to the fight against climate change. For more information, visit fondaction.com or our LinkedIn page
About EDC Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.