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178.50 0.00 (0.00%)

Bid:

179.00

Ask:

189.50

Spread: 10.50 (5.866%)

Market Cap: £185.99m

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Fintel agrees to acquire Threesixty from Abrdn

Fri, 28th Jun 2024 09:04

(Sharecast News) - Retail fintech and support service provider Fintel announced a conditional agreement to acquire Threesixty Services on Friday.

The AIM-traded firm said Threesixty, currently owned by Abrdn, offers compliance and business support to over 900 independent financial adviser and wealth manager firms.

It said the strategic acquisition was set to enhance its service offerings and expand its reach within the financial advisory market.

The transaction remained subject to customary conditions.

"We believe that Fintel is the natural home for the threesixty team and clients," said joint chief executive officer Neil Stevens.

"We have been committed to supporting professional advice firms for over 20 years, and our group aims to operate the strongest independent brands and most prestigious services, software and data offerings in the market."

At 1040 BST, shares in Fintel were up 0.28% at 307.86p.

Reporting by Josh White for Sharecast.com.