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Alliance Trust in talks over platform sale

Online-Shopping-Supermarket-Platform-Technology-700.jpgPlatform Alliance Trust Savings is in discussions with a number of bidders over a potential takeover the business.

In parent company Alliance Trust’s results this morning, it said that while a sale may not necessarily happen, it was holding preliminary talks with potential new owners for the platform.

ATS returned to profit last year, but has lost a number of key staff in recent months. Today’s results show a small profit of £23,000 for the first six months of 2018.

While the number of customer accounts has dropped by around 3,000, total assets under administration rose 2.5 per cent to £16.2bn.

The results read: “We have received a number of expressions of interest in ATS and are currently considering whether a change of ownership would be in the interests of Alliance Trust shareholders and ATS’ customers and staff.”

“Discussions with interested parties, each of whom envisage maintaining or growing ATS’ presence in Dundee, are at an early stage and there can be no certainty that the board of Alliance Trust will decide to sell ATS.”

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There is one comment at the moment, we would love to hear your opinion too.

  1. Probably not good business for another platform to purchase. Why not wait for the natural attrition that will occur as investors naturally switch platforms at zero cost?

    Is this further indication that sell it cheap, stack it high isn’t a sustainable business model with all the costs associated in running, maintaining and upgrading a platform?

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