A pensions software company, Delta, has been acquired by Bravura for £23 million.
Delta provides technology to support pensions administration to over 30 clients across the UK.
Set to be completed by the end of October, the acquisition is billed by both parties as a natural step due to the complementary nature of the products and services they offer.
The deal will allow Bravura to offer its services to Delta’s current client base.
Tony Klim, CEO of 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.”
Delta is forecasted to achieve revenue growth of 20-30% over the current financial year, with margins similar to that of its new partners.
Michael Power, CEO and co-founder of Delta, said: “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.”