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Nucleus Financial Group: Acquires OpenWealth for £1.5 million

November 3, 2020

Nucleus Financial Group has entered into a binding agreement to acquire the UK business and assets of Genpact Wealth Management UK Limited
In November 2018 Nucleus unbundled its technology arrangements from OpenWealth, contracting directly with Bravura Solutions (UK) Ltd
The acquisition is the next step in the Company’s journey to have increased control over its processes
Based in Glasgow, OpenWealth has provided business process outsourcing (BPO) services to the Company since 2011
The board of Nucleus believes that the Acquisition of the assets that pertain to Nucleus will allow the Company to further accelerate its product development
The acquisition expected to be earnings enhancing in 2021 before becoming increasingly accretive thereafter