Twenty7Tec to Acquire Bluecoat Software, Mortgage Management, Protection and Wealth Management CRM Solutions Provider Finplan.
As part of the acquisition, Bluecoat Software will operate under the Twenty7Tec brand. The combined company, which has nearly 100 employees, will be led by chief executive James Tucker.
Former Bluecoat Software Managing Director Mark Skelding will join Twenty7Tec Group as a Non-Executive Director.
Bluecoat’s Finplan, which is already integrated with Twenty7Tec’s CloudTwenty7 platform, enables customers of the combined company to benefit from a fully integrated product offering.
The acquisition will see Twenty7Tec invest in Finplan to develop it into a market-leading CRM solution for the wealth, mortgage and protection markets, while continuing to develop the combined businesses’ other mortgage capabilities.
Commenting on the acquisition, Tucker said, “We believe the skills and knowledge we have accumulated as a business in the mortgage market are eminently transferable to adjacent markets. Today, Finplan is a highly configurable solution, and we are confident that we can offer real added value to Mortgage, Wealth Management and Protection Advisors.
“In addition to our significant investment in our new product family, we plan to recruit heavily to further strengthen our senior team in particular, bringing in the expertise and experience we believe will be needed to succeed.”
“This is our first significant acquisition, but we will continue to look for opportunities to improve our product offering in the UK. We will continue to seek out other companies that share a similar philosophy and desire to drive efficiency and innovation in the financial services technology market.
Skelding adds: “I’ve gotten to know James well over the past year through these discussions, and it’s clear to see what he and the team have done at Twenty7Tec over the past seven years. They have succeeded in disrupting this market and are now true leaders in the field.