is doing another deal in the FA-friendly fintech space, this time across the pond.
] has acquired London-based Intelliflo
, Flanagan confirms
today. The pricing and terms of the deal were not disclosed as it "was not material to Invesco's financial position," though it values HgCapital's HgCapital Trust's Intelliflo stake at 16.8 million pounds ($22.55 million). (Hg has backed Intelliflo since 2013.)
, and Linklaters
advised Intelliflo and Hg on the deal, and management were advised by Fieldfisher
Seeking Alpha picked up
on the news.
Statements from Intelliflo
and Invesco describe Intelliflo, which launched in 2004, as "the No. 1 technology platform for financial advisers in the UK," as about 30 percent of FAs there use the service. The deal comes two and a half years after Invesco bought
an FA-friendly roboadvisor here in the U.S.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now