Fintel (LON:FNTL), a provider of fintech and support services to the UK retail financial services sector, has closed the acquisition of Synaptic Software, an independent provider of financial advisor planning and research software.
As announced on 5 December 2023, Fintel has conditionally agreed to acquire Synaptic Software for a net initial cash consideration of £3.5m subject to FCA approval
Today, Fintel announced that regulatory approval was received at the end of January 2024 and the acquisition was fully completed shortly thereafter.
Fintel has agreed to invest £0.5m in development costs to improve and integrate its products into the wider Fintel service offering platform.
Synaptic serves more than 1,600 financial advisors, providing due diligence research, compliance tools and software that streamline client journeys. It has a wide range of products, which enable advisers to realize the benefits of efficiency and produce better results for their clients.