1 Nov 2018 07:00
Media Release
1 November 2018
Equiniti enhances pensions technology with the acquisition of Aquila from AquilaHeywood Limited
Equiniti Group plc ("Equiniti"), the multinational specialist technology outsourcer, is delighted to announce the completion of the acquisition of Aquila Group Holdings Limited ("Aquila") from AquilaHeywood Limited on 31st October 2018. Financial details of the deal have not been disclosed.
Aquila is a UK-based life and pensions technology provider for pension schemes and large insurance companies. The Aquila proprietary platform 'Administrator', supports propositions in workplace savings, bulk purchase annuities and heritage transformation.
The acquisition is in line with Equiniti's strategy of acquiring capabilities to enhance client offerings and cements the EQPaymaster division as a leading technology and solutions provider. Aquila will predominately support Equiniti's Life and Pensions (L&P) team to add depth of choice to the L&P technology solutions and diversify the overall proposition, as well as enhancing software options available to existing clients.
AquilaHeywood Limited (and its remaining subsidiaries including Heywood, ATMOS and i-Connect) is not being acquired as part of this transaction and will remain under the ownership of its existing shareholders.
Ric Williams, co-CEO of EQPaymaster, said:
"We are delighted to announce the acquisition of Aquila, a leading provider of software and technology solutions. Aquila will enhance EQPaymaster's technology and services to the insurance market and broader financial services space, alongside our existing capability. I look forward to offering an enhanced combination of technology and services to our new and existing clients and building upon Aquila's investment in the proprietary 'Administrator' platform."
ENDS
For more information:
Temple Bar Advisory
Alex Child-Villiers / William Barker / Sam Livingstone
Tel: 0207 002 1080
Email: equiniti@templebaradvisory.com
Notes to Editor:
Equiniti Group plc is a multinational specialist technology outsourcer, delivering technology-enabled solutions to some of the world's best-known brands and UK's largest public-sector organisations.
It is the UK's leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes.
Equiniti's services, which are delivered by over 5,000 employees, benefit 28 million people in the UK and 120 countries around the world.
Equiniti's pensions division - EQPaymaster - is one of the largest providers of outsourced pension administration and specialist pension software in the UK, working with schemes in the public and private sectors with complex defined benefit, defined contribution and hybrid arrangements such as BAE, GSK, the NHS and Civil Service. In addition, Equiniti provides specialist pensions savings and retirement income administration services to the insurance sector.
The wide array of administration services provided include; member record keeping and maintenance; web; treasury; accounts; communications; and pensioner payroll.
Equiniti supports over nine million pension scheme members and in 2017 paid £31 billion to 3.5 million pensioners and annuitants.