Twenty7Tec completes Bluecoat Software acquisition

Mortgage technology provider Twenty7Tec has today announced the acquisition of Bluecoat Software in a move set to revolutionize both the wealth and mortgage technology markets.

Twenty7Tec Group acquired Bluecoat Software. Both businesses will now be merged under the Twenty7tec umbrella. James Tucker will manage the new business which employs nearly 100 people. Mark Skelding, the former CEO of Bluecoat Software, will join Twenty7Tec Group’s Board of Directors as a non-executive director.

Bluecoat Software provides the mortgage, protection and wealth management CRM solution ‘Finplan’ to over 300 advisory firms. Finplan is already integrated with Twenty7Tec’s CloudTwenty7 platform, which is used by over 15,000 mortgage advisers daily, allowing users to both source and apply for mortgages for their clients.

Twenty7Tec will invest heavily in Finplan to develop its market-leading end solution for advisors in the wealth, protection, and mortgage markets.

James Tucker, Twenty7Tec’s CEO, said: “Since inception, we’ve built an enviable reputation in the mortgage market for building technology that enables advisers to serve their clients in a simpler, faster and more efficient manner.

“We believe the skills and knowledge that we have developed as a business in the mortgage market are eminently transferable into adjacent markets. Finplan is highly configurable and we look forward delivering more value to advisors in wealth management, protection, and mortgages.

“We will be investing heavily both in terms of our stable of products, of which Finplan is now a key part, as well as looking to add more figures to our senior team, in particular, bringing in the expertise and experience that we believe will be needed in order to be successful.

“This represents our first significant acquisition, but I do not expect it to be our last. We will continue to look for other businesses that share a similar ethos and desire to drive efficiency and innovation in the financial services technology market.”

Bluecoat’s Founder Mark Skelding also added: “I’ve got to know James very well over the last year as part of these discussions, and it’s clear to see what he and the team have done at Twenty7Tec in the last 7 years. They’ve successfully disrupted that market and are now bonafide leaders in the space.

“Providing best in class tech solutions for advisers is at the heart of both companies, and the people involved in the team have created a dynamic culture that has seen them get to where they are. It feels a very natural fit for Finplan to be joining the Twenty7Tec stable of products and it’s hugely exciting for the coming years.”

Twenty7Tec in Bournemouth has made a significant step with the acquisition. Twenty7Tec plans to expand its workforce and there are at least 25 new employees who will be joining Twenty7Tec before 2022 ends.

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