Bravura Solutions will buy Luxembourg-based financial software vendor AB Prodata in a $13.3 million deal.
It will be the sixth acquisition for the global supplier of wealth management applications and professional services since its 2004 establishment.
AB Prodata is an automated financial messaging product provider. Its Babel Integrator is used by a dozen financial institutions in the UK and Europe.
"Bravura's size and access to economies of scale will allow a more cost-effective development of Babel and will improve current time to market," Bravura Solutions chief executive officer Iain Dunstan said.
On completion of the deal, Bravura Solution's client base will swell to 150 financial institutions globally. It will have more than 585 staff and 14 offices in six countries.
Bravura Solutions recently acquired The Bank of New York's transfer agency software business, Rufus Software business and Rufus GTA software, for approximately $79 million.
More than 10 million superannuation, life insurance and investment accounts are administered on Bravura software, with more than $320 billion in funds under management.
