SimplyBiz acquires Defaqto for £74m

'Will remain an independent business'

The SimplyBiz Group has acquired financial technology and research business Defaqto, which serves more than 8,000 financial advisers, for £74.3m.

The conditional purchase will see The SimplyBiz Group acquire the entire issued capital of Defaqto's parent company Regulus Topco. Defaqto will continue to be based in Haddenham, Buckinghamshire and SimplyBiz said it will remain an independent business within the Huddersfield-based company after the acquisition.  Defaqto CEO Zahid Bilgrami will remain in his role, with SimplyBiz promising the firm's strategic direction and service will be unaffected by its acquisition.  Bilgrami said: "We are absolutely delighted with SimplyBiz's decision to acquire Defaqto. It opens an exciting ne...