Iress has today signed a binding agreement to sell Pulse, its portfolio management software, to SecuritEase Holdings UK Limited, a member of the New Zealand-based SecuritEase group.
The transaction is expected to be completed within 30 days of signing and requires no financing or regulatory approvals.
Pulse provides portfolio management services to UK private asset managers working with clients on a discretionary basis. Iress acquired the Pulse business in 2015.
Iress group executive for the UK Harry Mitchell said the divestment aligns with Iress’ strategy of “refocusing on its core capabilities” and “streamlining operations” in the UK, and represents another step forward in the business’ “transformation strategy”.
“Our objective was to find a natural home for Pulse that was in the best interests of our clients and people over the long term, and we’re confident we have found this in SecuritEase,” he added. “We look forward to working with them on a smooth transition.”
Iress managing director of UK wealth Alex Hore added: “This is a great result for our clients, as it helps us build a more focused and resilient UK wealth business.
“We’ve made great strides in uplifting our product and service experience, and doubling down on our core competencies in advice software will only accelerate the progress made.”
In March, Iress sold its mortgage software and originations (MSO) business to Bain Capital Tech Opportunities.
Iress mortgage software connects lenders and brokers to allow sourcing and sales.
