View more on these topics

Defaqto executives could face fight to secure MBO

Members of Defaqto’s executive team look set to battle for control of the technology firm after receiving a 5m bid from a third party.

The executive team are understood to be planning a management buyout, which is said to be imminent.

International venture capital firm 3i has a 34 per cent stake in the business after providing an undisclosed capi- tal injection in 1998 but is understood to be looking for an exit strategy.

Defaqto has been aggressively promoting its Aequos Online and Aequos Engage services to the distribution market, offering free mass licences to several big networks and service providers.

Defaqto spokesman Chris Johnston says: “Our company has been really successful over the last year, with more subscribers to our Aequos systems than ever before. We are not surprised people have taken an interest in the company but we cannot comment further on market speculation.”

3i spokeswoman Karoliina Heimo says: “I am afraid we cannot comment on the market speculation around Defaqto.”

SimplyBiz marketing director Matthew Timmins says: “We chose Defaqto because of the strength of their Engage product and the quality of their post-sales service. As long as these are maintained to the same high quality standard, then any changes in management structure or ownership do not concern us.”

Recommended

Paying dividends

JO Hambro fund manager Chris Beagles is a leading light in the equity income area and he puts the focus firmly on yield, believing that dividends are a true reflection of a company’s worth

Land bank alert from FSA

The FSA has warned financial advisers to check the status of land banking companies before putting their clients into such schemes.The regulator says it is concerned over whether land banking schemes are collective investments and therefore subject to regulation.Schemes that are deemed to be collective, but where there is no regulation, would be operating illegally.It […]

Equity release now cheaper than SVRs, claims Ship

Safe Home Income Plans has revealed research which claims that average equity release rates are lower than average standard variable rate for mainstream mortgages. Examining the annualised interest rates for the top ten equity release providers, Ship has calculated the average interest rate to be 6.14 per cent. In contrast, the average standard variable rate […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com