Illawarra business FinoComp is being acquired to form a part of the Bravura Solutions organisation.
FinoComp managing director Ray Tubman will remain a core part of the business and said the $1 billion Australian public company Bravura employs around 1500 people globally in similar markets.
"Our presence in the Illawarra remains and this will be the basis of growth in the future. Bravura has an outstanding reputation in the marketplace," he said.
"We share common values and are delighted to join Bravura in the pursuit of delivering world-class solutions for our clients".
In a recent statement Bravura said it was acquiring FinoComp for $25 million.
It said the Jamberoo and Wollongong-based business's software will add functionality to Bravura and bring with it new wealth management clients as well as cross-sell opportunities to the company's existing clients
Bravura Solutions noted how FinoComp has exhibited strong revenue growth since it was founded in 2015. Revenue grew by 27 per cent during the last financial year and expected to continue to grow at that rate for the next three years.
FinoComp was recently named Employer of Choice at the Illawarra Business Awards and made the list of Deloitte's Technology Fast 50 companies in Australia.
The Illawarra business builds unique, registry-agnostic and highly flexible software that supports the UK wealth market.
It provides software for data analytics, client reporting, performance reporting and regulatory compliance built on a microservices architecture.
FinoComp's clients include leading UK wealth management institutions, such as Aegon and Nucleus.
Bravura said the acquisition deepens its own technical capabilities, creating a compelling opportunity to deliver "plug and play" solutions to a broader addressable market
FinoComp's 35 employees Australia and five in the UK includes seasoned senior management, mathematicians and experienced developers with diverse backgrounds specialising in critical infrastructure.
It occupies three historic buildings in the heart of Jamberoo and recently opened a fourth in Smith Street, Wollongong.
Bravura chief executive Tony Klim said "the combination of Bravura and FinoComp unlocks a strategically compelling opportunity for Bravura's market- leading technology to drive more of our clients' mission-critical operations".
"Combined with FinoComp's cutting-edge technology, the acquisition extends Bravura's wealth management offering," he said.
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