Deal is planned to close by the end of August Australian software vendor Bravura Solutions has acquired financial planning software vendor Midwinter Financial Services in a deal that is expected to close by the end of August. Bravura expects that Sydney-headquartered Midwinter’s software AdviceOS will complement its wealth management and life insurance solutions, according to Bravura CEO Tony Klim. "The Midwinter team have built a strong, highly functional and well-regarded cloud-based SaaS application for the financial advice market. The acquisition has a strong fit with our mission to provide best-in-class software solutions that comprehensively satisfy our clients requirements and help them navigate complex regulatory environments," Klim said. AdviceOS, described as a "cloud-based financial advice solutions platform" by Midwinter, can generate financial advice while assisting with financial compliance and reporting obligations. This acquisition also represents a shift away from using traditional methods of financial advice delivery and towards supporting that advice with technology-based solutions, Bravura added in a statement. Under this partnership, the founders and senior management of Midwinter are expected to continue operating under the company’s brand for the foreseeable future. There are currently no plans for Midwinter to operate under the Bavura name. The acquisition follows Bravura's recent attempt to buy another financial software provider, GBST, with an offer of $184 million in June. However, the company was outbid by SS&C Technologies, which offered $221 million. Related content news Exclusive Networks acquires Nextgen Group Walters will remain as Nextgen Group A/NZ CEO along with key leadership members. By Julia Talevski 28 Mar 2024 6 mins Mergers and Acquisitions Vendors and Providers Emerging Technology news blueAPACHE makes multi-million-dollar investment with ServiceNow platform The decision to leverage the ServiceNow platform enhances its operational capabilities and aligns with bluePACHE’s growth ambitions and strategic goals. By Julia Talevski 28 Mar 2024 4 mins Managed Service Providers Software Development Enterprise Applications news Tecala appoints Ethan Group’s Adrian Ng as professional services head Will be focused on delivering transformation programs for customers. By Eleanor Dickinson 28 Mar 2024 2 mins Managed Service Providers Digital Transformation news KPMG Australia joins SAP PartnerEdge program Follows KPMG’s acquisition of SAP partner Think180 last year. By Eleanor Dickinson 28 Mar 2024 2 mins Enterprise Applications IT Management Software Development SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe