Wrap provider Transact has acquired a 15 per cent stake in investment data aggregation firm Sprint Enterprise for an undisclosed amount.
The acquisition will be made by Integrated Financial Holdings, the holding company for Transact.
Transact chief development officer Jonathan Gunby will join the board of Sprint.
Sprint was founded in 2010 by a group of advisers and launched their flagship Fastrak product in 2012.
Sprint chief executive Christopher Willmott says: “Integrated Financial Holdings has recognised how we will be able to bring best business practice to the client community. This is a major step forward and we believe Transact’s involvement is good news for Sprint and for our clients.
“The investment underscores the credibility of our proposition and the potential for growth in our business. It will help us to remain at the cutting edge of innovation, delivering tangible benefits to our clients, without compromising our independence.”