Equiniti Group plc (“Equiniti”), the multinational specialist technology outsourcer, is delighted to announce the completion of the acquisition of Aquila Group Holdings Limited (“Aquila”) from AquilaHeywood Limited on 31st October 2018. Financial details of the deal have not been disclosed.

Aquila is a UK-based life and pensions technology provider for pension schemes and large insurance companies. The Aquila proprietary platform ‘Administrator’, supports propositions in workplace savings, bulk purchase annuities and heritage transformation.

The acquisition is in line with Equiniti’s strategy of acquiring capabilities to enhance client offerings and cements the EQPaymaster division as a leading technology and solutions provider. Aquila will predominately support Equiniti’s Life and Pensions (L&P) team to add depth of choice to the L&P technology solutions and diversify the overall proposition, as well as enhancing software options available to existing clients.

AquilaHeywood Limited (and its remaining subsidiaries including Heywood, ATMOS and i-Connect) is not being acquired as part of this transaction and will remain under the ownership of its existing shareholders.

Ric Williams, co-CEO of EQPaymaster, said:

“We are delighted to announce the acquisition of Aquila, a leading provider of software and technology solutions. Aquila will enhance EQPaymaster’s technology and services to the insurance market and broader financial services space, alongside our existing capability. I look forward to offering an enhanced combination of technology and services to our new and existing clients and building upon Aquila’s investment in the proprietary ‘Administrator’ platform.”