Bravura to acquire wealth management software company for $25 million

Listed fintech Bravura (ASX: BVS) is poised to acquire Australian software company FinoComp for $25 million.

Like Bravura, FinoComp is a software development company that builds solutions for the wealth management market.

FinoComp currently has clients in the UK including Aegon and Nucleus, and provides them with software for data analytics, client reporting, performance reporting and regulatory compliance.

Bravura says the acquisition will expand on its current capabilities, creating an opportunity to deliver “plug and play” solutions to a broader addressable market.

The company intends to generate further revenue opportunities by expanding FinoComp’s software into adjacent markets and geographies in the future, including financial advice, funds administration and private client wealth management.

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Source: Bravura to acquire wealth management software company for $25 million