Vertex Financial Services has acquired the Sesame Office business from Sesame Group.
As part of the agreement, Vertex will become the preferred desktop services solutions provider for Sesame’s life, pensions and investment advisers.
The move is part of Sesame’s strategy of building technology partnerships to provide its advisers with enhanced business efficiency and client services.
It will also allow Sesame to focus on its core business of providing regulatory, research and professional development for adviser members.
The Sesame Office software consists of sales and administration functions and has over 900 users.
Vertex will take full control of Sesame Office software and a range of associated technologies as part of the deal.
Commenting on the acquisition, David Child, managing director of The Exchange, a Vertex company, says: “Following previous investment in Sesame Office we will continue to support the product in its current form.
“However, we believe that the additional knowledge and experience Vertex can offer through the combination of The Exchange and 1st, will take the users forward with products that take advantage of the next generation in product solutions and provide a roadmap for the longer term.”
Sesame says the move was in the best interests of its technology customers and will allow the software to keep pace with the changing needs of advisers.
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