SimplyBiz acquires Defaqto for £74m

'Will remain an independent business'

Tom Ellis
clock • 1 min read

The SimplyBiz Group has acquired financial technology and research business Defaqto, which serves more than 8,000 financial advisers, for £74.3m.

The conditional purchase will see The SimplyBiz Group acquire the entire issued capital of Defaqto's parent company Regulus Topco Ltd. Defaqto will continue to be based in Haddenham, Buckinghamshire and SimplyBiz said it will remain an independent business within the Huddersfield-based group after the acquisition.  Defaqto CEO Zahid Bilgrami will remain in his role, with SimplyBiz promising the firm's strategic direction and service will be unaffected by its acquisition.  Bilgrami said: "We are absolutely delighted with SimplyBiz's decision to acquire Defaqto. It opens an exciting new...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Tavistock acquires asset manager and moves forward with Saltus advice sale

Tavistock acquires asset manager and moves forward with Saltus advice sale

Will receive £22m by 2 December

Isabel Baxter
clock 22 November 2024 • 2 min read
The Penny Group adds £90m of assets with Surrey planning firm buy

The Penny Group adds £90m of assets with Surrey planning firm buy

Chartered firm snaps up Whiting Financial

Isabel Baxter
clock 20 November 2024 • 2 min read
FSCS declares Stoke-on-Trent advice firm failed for pension transfer advice

FSCS declares Stoke-on-Trent advice firm failed for pension transfer advice

Norrix Financial Services was dissolved this month

Isabel Baxter
clock 20 November 2024 • 1 min read