Financial services technology specialist, Altus, has been acquired by Canadian software company, Equisoft, for an undisclosed sum.

Equisoft is a global provider of advanced insurance and investment digital solutions operating in eight international locations across North America, Latin America, Africa and Asia.

The deal makes Altus the first European acquisition for Equisoft, and the firm will maintain its current operations and services as both companies focus on leveraging their respective strengths to pursue growth opportunities.

Altus managing director, Kevin Okell, said that the group has been “flattered” over recent years by the level of interest shown in Altus by potential suitors, but had never quite met the right partner until now.

“The more we found out about Equisoft, the more we felt this would be a perfect marriage of two technology firms with the same shared vision, both with highly specialised solutions and proven expertise; to transform financial services with quality digital solutions and then share the benefits across clients, staff and our communities,” Okell said.

“I am delighted to report that Equisoft grasped this immediately and has committed to substantial further investments in the product and to expanding its geographic coverage.”

Equisoft, CEO Luis Romero, added: “Equisoft is an innovative, fast-growing company with clients and offices across five continents, and a clear strategic global vision. As we were searching for the right UK business partner, it was immediately clear that Altus is an incredibly good match both in terms of proposition and values.

“We are very excited to work with the Altus team to bring the best of both our propositions to our enlarged client base, and to expand our combined capabilities across Europe.”

Share Story: