Financial software provider, Iress Ltd (ASX: IRE) today announced to the ASX it has agreed to acquire Australian financial content provider, Innergi. Innergi has developed an easy-to-use digital platform for wealth managers and financial advisors seeking to better engage with their clients.
Iress did not disclose specific details on the value of the deal but said Innergi's founder, Robert Skinner, and the rest of team will join Iress from 1 July 2015. Mr Skinner will be responsible for integrating the software into Iress' wealth management solution, XPLAN.
Iress' Managing Director of Wealth Management, Australia and New Zealand, Tizzy Vigilante said, "There has been a significant increase in demand from advisers for new ways to engage with their clients, particularly digitally. Tools such as those provided by Innergi allow advisers to engage meaningfully with clients face-to-face and online. We are excited about this opportunity to combine XPLAN and Innergi's content to further strengthen our offer to clients."
Should you buy Iress shares?
Iress has a strong track record of acquisitive growth. It has done so by effectively bolting on acquisitions and integrating them to provide a comprehensive suite of solutions for its customers. Investors looking for both long-term growth potential and income could do far worse than taking a second look at Iress shares.
