Equisoft, a technology provider for the wealth management and insurance sectors, has purchased Grendel to support its US growth strategy.
The companies did not reveal the value of the deal.
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Headquartered in Pennsylvania, Grendel specialises in providing a customer relationship management system (CRM) tailored for wealth managers.
The system’s multiple integration partnerships enables advisers to handle client relationships, trading, compliance functions, and reporting from a single place.
Equisoft CEO Luis Romero said: “Grendel has a feature-rich, scalable CRM platform and a solid client base in the US.
“Their solution will be a great complement to our own CRM, which is more insurance focused, and their clients will in turn benefit from our broad suite of related products, such as WealthElements.”
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By GlobalDataIn this context, Equisoft cited a 2018 report by Celent.
According to the report, Grendel is among the top technology vendors for premier wealth management CRM solutions in North America.
Grendel CEO Aaron Guidotti said: “Equisoft is a fast-growing global powerhouse – and the resulting combination of our respective platforms is an ecosystem unmatched in our industry.
“This is a win-win that will allow us to evolve while staying true to the mission that has guided us so far: making advisers’ lives easier.”
Equisoft made several acquisitions in the past one year.
In 2018, the firm purchased Kronos Technologies as well as Apeiron Software and Planist.
