Fintech Iress is to promote its Pulse portfolio administration software program to SecuritEase Holdings UK Restricted, a part of New Zealand-based SecuritEase group.
The enterprise is being offered by Iress for an undisclosed sum.
Iress has been overhauling its enterprise over the previous yr after saying a serious shake-up a yr in the past in tandem with plans to axe 225 jobs, about 10% of its world workforce.
Pulse offers portfolio administration providers to UK personal asset managers who work with discretionary shoppers.
Iress acquired the Pulse enterprise in 2015.
Iress’ UK group government Harry Mitchell, mentioned: “This divestment aligns with Iress’ technique of refocusing on its core capabilities and streamlining operations within the UK and represents one other step ahead in our transformation technique.
“Our goal was to discover a pure residence for Pulse that was in the perfect pursuits of our shoppers and other people over the long run, and we’re assured now we have discovered this in SecuritEase. We sit up for working with them on a clean transition.”
Iress’ managing director of UK Wealth Alex Hore, mentioned: “This can be a nice consequence for our shoppers, because it helps us construct a extra targeted and resilient UK wealth enterprise. We’ve made nice strides in uplifting our product and repair expertise and doubling down on our core competencies in recommendation software program will solely speed up the progress made.”
The transaction is predicted to be accomplished inside 30 days of signing and requires no financing or regulatory approvals, the agency mentioned.
