Edinburgh FinTech Nucleus has acquired OpenWealth’s UK business (Genpact Wealth Management UK) for £1.5mn.
In Brief:
-
This will be funded from the company’s cash resources.
-
OpenWealth already provides a range of services for Nucleus.
-
OpenWealth staff will move to Nucleus bringing the total workforce to 380.
What does this mean?
Nucleus will now be able to take some of its previously outsourced technology services in-house. The deal is set to go through by the end of this year and illustrates Nucleus’ plan to have more control over its processes.
