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Capita set to make bid for Webline

Capita is thought to be lin- ing up a bid for IFA portal Webline to create a complete package of outsourcing for advisers.

The outsourcing firm rec-ently acquired adviser back- office firm Quay and industry insiders believe that a move for the portal would fill in the gaps in Capita’s adviser offering.

Webline executive chairman Paul Holland says a number of approaches had been made for the portal over the last 18 months but would not confirm if Capita had made a bid.

Capita managing director Steve Parkinson recently told Money Marketing that it was hoping to offer a combined admin outsourcing and back-office package to big IFA firms and networks.

If the acquisition took place, it would line up Capita against Vertex, the other outsourcing giant in the industry, which bought The Exchange in May.

Capita has made several moves into financial services in recent years, buying Winterthur’s 2.9m Sipp administrator PPML in May 2004 and announcing in September that it had entered into discussions with Zurich over the poten- tial to assist with certain operations and business proc- esses within the provider’s business.

Holland says: “From time to time, we receive approaches from third parties, as one would expect mindful of our positioning and impact in this rapidly evolving marketplace. I can confirm that no deals have been formally agreed with any of these parties.”

Parkinson says that he will not comment on market speculation.

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