Are platforms becoming more desirable?

In the heady world of mergers and acquisitions, the proposed sale of Transact by its founding members is unlikely to raise any eyebrows. But in the financial services industry, it is a sign that at least one area of the platform market has finally come to maturity.

Last week, Investment Week revealed the platform has appointed Goldman Sachs to broker a full sale of the business, which by the most conservative estimates would net shareholders several hundred million pounds. The one big unknown is who would buy a firm that, while profitable, would not immediately slot into one of the established players. CEO Ian Taylor and chairman Michael Howard are understood to be open to standing down in the event of a sale – a sign the platform may be acquired by an existing rival. However, the prospect of a UK life company which already runs a platform bu...