Huddersfield fintech Fintel plc has completed the £14.6m acquisition of Threesixty Services from abrdn plc in an all-cash deal.
Fintel provides of FinTech and support services to the UK retail financial services sector through its offerings SimplyBiz, Compliance First and SIFA, while Manchester-based Threesixty serves 900 intermediary customers and provides regulatory and business services to independent financial advisers and wealth managers.
It will now join SimplyBiz, Compliance First and SIFA in offering compliance and business support to as part of Fintel.
Fintel also houses brands such as Defaqto, VouchedFor, Competent Adviser, AKG, MICAP, Owen James, ifaDASH and Synaptic.
Fintel joint chief executive Neil Stevens said: “Threesixty’s leadership team is fully supportive of the acquisition and will remain with us to see it grow and develop moving forward, as will all existing teams within the business.
“We are confident we can further enhance services for Threesixty clients with joint investment in technology and will explore opportunities to make the benefits of our wider technology and data platform available over time.”
He added that Fintel will run Threesixty as an independent business with its own offerings and pricing in the market, alongside its existing businesses.
Threesixty CEO Russell Facer said: “The Threesixty brand and independent offerings will remain in place to continue to provide genuine choice for adviser firms.”
Threesixty is the eighth business acquired by Fintel over the past 12 months, joining AKG, VouchedFor, Competent Adviser, Micap, Synaptic, Owen James and ifaDASH.
