FNZ completes acquisition of platform tech rival GBST

Earlier this year (29 July), according to Business News Australia, GBST shares rose by as much as 6.5% after FNZ made a bid to acquire GBST, valuing the business at AUS$269m (£151m). After weeks of dismissing FNZ's bids, GBST was eventually convinced to go ahead and the acquisition has now been completed. FNZ and GBST were the two biggest platform technology names in the UK, providing the underlying technology to 10 of 18 major adviser platforms. The lang cat consulting director Mike Barrett said the acquisition makes them "comfortably the largest technology provider in the UK". "A...