Bravura acquires FinoComp 29 October 2019Sydney Reporter: Jenna Lomax
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Bravura Solutions is set to acquire FinoComp, an Australian software company, for AUD $25 million.
FinoComp provides software for data analytics, client reporting, performance reporting and regulatory compliance built on a microservices architecture.
According to Bravura, the acquisition opens significant cross-sell opportunities between FinoComp and Bravura clients.
Bravura is aiming to expand FinoComp’s software into adjacent markets and geographies in the future, including financial advice, funds administration and private client wealth management.
The founders and senior management of FinoComp are expected to remain a core part of the business. FinoComp has 35 employees in Australia and the UK.
Commenting on the acquisition, Tony Klim, CEO of Bravura, said: “The combination of Bravura and FinoComp unlocks a strategically compelling opportunity for Bravura’s marketleading 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.”
Ray Tubman, managing director of FinoComp, commented: “Bravura has an outstanding reputation in the marketplace. We share common values and are delighted to join Bravura in the pursuit of delivering world-class solutions for our clients.”
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