Money Marketing publisher Centaur Media has acquired the wrap and platform research firm The Platforum for an initial price of £1.8m.
The firm, whose full name is Investment Platforms Limited, was founded three years ago by Holly Mackay, who had previously developed and managed platforms for Merrill Lynch and Norwich Union in Australia before being appointed UK director of Santander’s Allfunds Bank in 2005.
Centaur will pay £1.8m plus a further payment based on IPL’s profits in the year to June 30 2014, with a total price capped at £6.3m.
Centaur chief executive Geoff Wilmot says: “IPL provides specialist information and advice to the retail funds and intermediary community, which is a core market for Centaur, served by our leading brands Money Marketing and Fund Strategy.
“This market is in a period of significant change following the completion of the Retail Distribution Review and IPL is the leading expert information provider in the field.”
Mackay says: “The platform industry is growing apace fuelled by regulatory change, technological developments, the consumer demand for choice, pension auto-enrolment –the list goes on. Joining forces with Centaur will enable The Platforum to become more efficient, develop better products and reach a broader audience. Our combined efforts will make a bigger and better business and we’re excited about the future opportunities this collaboration offers.”