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.
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.”
In 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.