Novigi boosts managed services with partial Iress acquisition

Novigi has acquired the superannuation consulting and managed services business of software vendor Iress, from Apex Group.

The acquisition sees over 100 specialised technology services and superannuation consultants join Novigi, taking its headcount to a total of 400.

ARN understands the managed services portion focuses on the delivery of platform configuration, optimisation and integration – particularly around Iress’ Acurity platform. The platform is a portal for superannuation members, employers, advisors and administrators.

The acquired services also cover broader technology-enabled operational support for superannuation administration.

Novigi CEO Ash Priest said the business’ collaboration with Apex has been a highlight of its growth trajectory.

“The transaction is an integral component of our growth strategy, demonstrating our commitment to strategic and sustainable growth,” he said.

Priest also said that the Acurity suite is “deeply embedded in the wealth management sector” and the deal improves its standing to meet demand in the industry.

Apex Asia Pacific regional managing director Nicholas Happell said that Apex Super will be supported by Novigi’s proficiency in managing and improving its underlying tech techack and services.

“We will also work together to develop our combined software applications into a market-leading ecosystem, with the end result being simpler service and increased technology investment, improving the experience for all software users, administration clients and members,” he added.

Novigi’s partial acquisition of Iress comes months after it boosted its managed services with the acquisition of Brisbane-based 360 Managed. This saw it in part bolster its capacity in the financial services space as one of its customers included FutureSuper.