Bravura Solutions, an Australia-based provider of transfer agency and wealth management software applications and professional services, has completed the acquisition of Mutual Fund Technologies (MFT), a UK-based provider of transfer agency services, predominantly in Europe.
As part of the transaction, Bravura will acquire MFT’s GFAS (Global Funds Administration System) software solution.
The acquisition is expected to be EPS accretive and highly cash generative due to long term annuity revenue streams. It is also expected to deliver improved predictability of earnings.
Simon Woodfull, group CEO of Bravura, said: “The acquisition of MFT is key to Bravura’s increasing presence in the transfer agency market, placing us in a strong position to grow our European transfer agency footprint.
“We welcome the new staff joining Bravura as part of the acquisition, and believe that they will play a major role in continuing our service offer of sophisticated products across a range of broad-reaching needs.”