Outsourcing giant Capita has announced the acquisition of adviser portal Webline for an undisclosed fee
The move, revealed by Money Marketing last month, continues Capitas drive into the IFA arena after it purchased software provider Quay in November.
Capita recently signed a contract with Zurich to act as an outsourcing partner to deliver business processing activities, valued at 300m over 10 years. It is also undertaking a review as to whether Thinc Destini should outsource its support functions.
The acquisition mirrors last years sale of Webline rival The Exchange to outsourcers Vertex.
All the directors and employees at Weblines offices in Fareham, Hampshire will become employees of Capita but will continue to work out of their current premises.
Capita Group executive chairman Rod Aldridge says: Web-based functionality is vital for our business to work seamlessly with the network of IFAs. Webline offers proven, resilient technology in this arena and has an excellent reputation with insurance providers. Through this acquisition we can offer a complete adviser outsourcing solution. We will benefit from the Webline teams extensive market knowledge and vision, and our customers will benefit from the combined service portfolio.
Webline executive chairman Paul Holland says: This acquisition offers Webline fantastic scope to continue our rapid development as well as providing greater opportunities for users, partners and staff. We look forward to becoming part of Capita, extending our range of innovative services and significantly increasing our market share.