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 adviser planning and research software.
As announced on 5 December 2023, Fintel conditionally agreed to acquire Synaptic Software for a net upfront cash consideration of £3.5 million subject to FCA approval
Today, Fintel announced that regulatory approval was received in late January 2024 and the acquisition fully completed shortly thereafter.
Fintel agreed to invest £0.5 million of development expenditure to enhance and integrate its products into the wider Fintel platform of service offerings.
Synaptic services over 1,600 financial advisers, providing due diligence research, compliance tools and software which streamlines customers’ journeys. It has a highly regarded range of products, which allow advisers to realise efficiency benefits and generate better outcomes for their customers.
