SSP continues consolidation with major Sirius purchase
Andrew Tjaardstra Software Solutions Partners is splashing the cash on rival broker technology prov...
Andrew Tjaardstra
Software Solutions Partners is splashing the cash on rival broker technology provider Sirius, following its flotation last October. Further consolidation in the broker software market has long been predicted following SSP's acquisition of Sectornet in December 2005, and Montagu Private Equity's purchase of Misys General Insurance last May. The combined business will deal with 1500 brokers in the UK.
The total offer is £43.4m of which 75% is in cash and the rest in shares in the
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