Friends Prov acquires Sesame for £75m

The move will see the company expand its focus on retail and ultra high net worth advisory businesses, having never wholly owned an advisory firm previously. Misys has sold Sesame to the insurer for £75m though further payments may be made at a later date. Pantheon has been bought for an upfront fee of £16.8m with further potential payments again possible over the next three years. Simon Clamp, Friends Provident managing director of marketing and UK distribution, says the acquisitions are the latest moves in a six-year mission to invest in the distribution market. He says the firm took ...