Microgen acquires wealth management software provider

Microgen has acquired Finalysys, a Jersey-based provider of wealth management software for the offshore finance industry.The software developer will pay up to £0.3m, part of which will be deferred.Finalysys will be integrated into Microgen's Financial Systems business."A key element of the strategy of the Financial Systems business is to increase the proportion of its revenue derived from wealth management software through add-on acquisitions," it said."This acquisition provides the Financial Systems business with an increased client and recurring revenue base within its core Trust & Fund Administration sector."