SimplyBiz acquires Defaqto for £74m

The SimplyBiz Group has acquired financial technology and research business Defaqto, which serves more than 8,000 financial advisers, for £74.3m. The conditional purchase will see The SimplyBiz Group acquire the entire issued capital of Defaqto's parent company Regulus Topco Ltd. Defaqto will continue to be based in Haddenham, Buckinghamshire and SimplyBiz said it will remain an independent business within the Huddersfield-based group after the acquisition. Defaqto CEO Zahid Bilgrami will...