1st Nov 2018 08:29
LONDON (Alliance News) - Outsourcing services firm Equiniti Group PLC said Thursday it has acquired pensions technology firm Aquila Group Holdings Ltd on Wednesday for an undisclosed sum from AquilaHeywood Ltd.
UK-based Aquila provides its pension and savings platform to pension schemes and large insurance companies.
Aquila will join the EQPaymaster division of FTSE 250-listed Equiniti. It will "predominately support Equiniti's Life & Pensions team to add depth of choice to the L&P technology solutions and diversify the overall proposition," Equiniti explained in a statement.
EQPaymaster Co-Chief Executive Officer Ric Williams added: "We are delighted to announce the acquisition of Aquila, a leading provider of software and technology solutions. Aquila will enhance EQPaymaster's technology and services to the insurance market and broader financial services space, alongside our existing capability. I look forward to offering an enhanced combination of technology and services to our new and existing clients and building upon Aquila's investment in the proprietary 'Administrator' platform."
Shares in Equiniti were 1.4% higher at 218.50 pence on Thursday.
Related Shares:
EQN.L