Novigi acquires Iress’ Superannuation Consulting and Managed Services business from Apex Group

Today, specialist data and technology services provider Novigi has announced its acquisition of Iress’ Superannuation Consulting and Managed Services business from Apex Group.

The acquisition immediately follows Apex Group’s acquisition of the Iress Superannuation business, including the Acurity software suite, and is another significant step forward in the close collaboration between Novigi and Apex.

As part of the transaction, over 100 specialised superannuation consulting and technology services consultants have joined Novigi, bolstering its total headcount to nearly 400 people.

Ash Priest, CEO at Novigi said, “The transaction is an integral component of our growth strategy, demonstrating our commitment to strategic and sustainable growth. Our collaboration with Apex Super has been a highlight of Novigi’s growth trajectory and we’re excited about the future.”

The Apex Superannuation and Novigi operating model brings together best-of-breed capability to build, deploy and operate world-class data and technology solutions. These strengths underpin the delivery of exceptional member services and highly adaptable administration solutions. By aligning each party to its core competencies, this strategic division of assets eliminates redundancy and enhances value across the broader ecosystem.

“As the data and technology partner to the superannuation and wealth management industry, Novigi needs to provide leading services at scale around the most relevant technologies for the sector. The highly regarded Acurity software suite is deeply embedded in the wealth management sector, and this transaction enhances our ability to meet growing market demand with unparalleled expertise,” said Priest.

Nicholas Happell, Regional Managing Director, Asia Pacific at Apex said, “This latest transaction ensures that the acquisition of Iress’ superannuation business will deliver the best results for the industry. By dividing the business in this way, each entity focuses on its core competencies. Apex Super will leverage its global expertise to deliver the Acurity core and peripheral product development and leading administration services, supported by Novigi’s proficiency in managing and improving the underlying technology stack and services. We will also work together to develop our combined software applications into a market-leading ecosystem, with the end result being simpler service and increased technology investment, improving the experience for all software users, administration clients and members.”

“We are also delighted to welcome another highly skilled team that will enhance our capabilities and align with our strategic vision. We look forward to integrating this talented group into the Novigi operating model,” Priest concluded.