Lonsec Research has purchased iRate’s technology and client base from the administrators of the van Eyk group of companies, which is presently in liquidation.
The acquisition will enable Lonsec to fast track their technology offering to the planning and fund manager markets, and over the coming months, Lonsec will focus on the smooth transition of clients on iRate.
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Amanda Gillespie, joint CEO of Lonsec Fiscal Holdings (LFH), the holding company of Lonsec Research, said: "The acquisition of iRate will not only allow us to showcase our research to the current iRate clients, but also to enhance and evolve the delivery of research and portfolio construction tools to our existing client base."
Lonsec will be working with van Eyk liquidators, Moore Stephens, to liaise with clients.
Alex Watson, General Manager of the LFH technology, added: "We were recruited to bring to market a series of integrated platforms that would allow advisors, fund managers, superannuation funds and other key financial services entities, access to our vast array of data and research, in a market leading environment. The acquisition of iRate will be a key plank in the process and will save us at least eighteen months of development time and testing."
The transition is slated to be completed within three weeks.
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