Pulse Software Systems has been acquired by IRESS, the leading supplier of innovative technology for financial markets, wealth management and the mortgage industry.
The acquisition underpins IRESS' vision to offer unified technology solutions to the market, adapting to trends of convergence amongst traditionally disconnected Wealth Management functions.
In the formal announcement, IRESS Chief Executive Andrew Walsh said: "The acquisition of Pulse supports our strategic objectives in the United Kingdom. Having established substantial operations in the United Kingdom in 2013, we have identified, and have been responding to, additional opportunities in complementary client segments and where our integrated product suite has proved attractive.
"Wealth management is an established, diverse market in the United Kingdom and focused on meeting the investment needs of private clients. Increasingly, the technology needs in this segment are growing to support consolidation, regulatory change and digital engagement with investors. This is an area where we have seen strong demand for technology strategies and unification to support the growth of diversified asset managers.
"We believe the combined Pulse and IRESS solutions will respond directly to this demand, and, together with expertise and experience with investment management workflow in the United Kingdom, will support strong client offerings."
Pulse's existing team of staff will join IRESS, boosting IRESS' regional capacity and capability.
Pulse Managing Director and founder, Mike Nicholls said: "Pulse's entire staff of around 30 specialists will join IRESS and Pulse will continue to be led by the existing management team. By becoming part of a world class financial technology company, we are securing an exciting future for our customers and staff. This move widens the range of the software solutions we provide to wealth management companies in the UK and brings significant support and momentum to Pulse's growth ambitions and potential".
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