Financial Services technology specialist Altus has been acquired by Canadian software company Equisoft for an undisclosed sum. A leading global provider of advanced insurance and investment digital solutions, Equisoft operates in 8 international locations across North America, Latin America, Africa and Asia. Altus is the first European acquisition for Equisoft, and will maintain its current operations and services, as both companies will focus on leveraging their respective strengths to pursue growth opportunities.
“We have been flattered over recent years by the level of interest shown in Altus by potential suitors but 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.
Given our substantial recent investment in Finscape, Altus was particularly keen to find a partner who understood the enormous potential of this initiative and the critical importance of the role it could play in the investment value chain. 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, an industry veteran with a successful track record of acquisitions, added:
“Equisoft is an innovative, fast-growing company with clients and offices across 5 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. With strong advocacy from a blue-chip client base, striking industry profile and a warm family ethos, Altus seemed like the ideal hub from which to expand our European presence.
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.”