Australian data and trading software provider IRESS is set to acquire adviser technology provider Avelo for £210m.
The deal will be funded through $206m share issue with each new share priced at $7.15, according to an announcement on the Australian Securities Exchange (ASX). IRESS chief executive Andrew Walsh said: "This is a unique and attractive opportunity to establish scale, revenue and relationship footprint in the UK. "Avelo has a strong strategic fit with our wealth management business and significantly builds upon our organic success in the UK. It also introduces mortgage sourcing and distribution technology strength that will expand IRESS' capabilities within financial services." Curre...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
