Global financial services provider Apex Group Ltd. (“Apex Group”), has announced the successful completion of its acquisition of the Iress Superannuation business.
The binding acquisition was announced in January 2025. It was subject to Foreign Investment Review Board approval, novation of a material customer contract and customary warranties and indemnities, all of which have been completed as expected.
The acquisition further strengthens Apex Group’s position in the broader Australian market and superannuation in particular. In 2024, Apex Group established Apex Super, its Australian Superannuation business in partnership with data and technology platform provider Novigi.
Iress will continue to provide some services for up to 18 months to assist in the transition of the Superannuation business to Apex Group’s ownership.
Nicholas Happell, Apex Group Regional Managing Director, Asia Pacific, said:
“We’re thrilled to welcome the Iress Superannuation team and clients to Apex Group. Delivering flexible solutions across technology and administration to the superannuation industry is a core part of our market proposition. The acquisition of the Acurity software suite, together with the deep superannuation expertise that comes with it, significantly enhances our capabilities. Our focus now is on integrating the business into Apex Group, while ensuring a seamless experience for our clients and their members.”
Iress Group CEO, Marcus Price, said:
“As we complete this transaction, I’d like to once again thank our people, clients and partners for their contribution to Iress during our ownership of the Superannuation business. Divesting the Superannuation business enhances our ability to focus on our high quality core businesses of Wealth and Trading and Market Data where we see good opportunities for organic growth and higher returns for shareholders.”
Flagstaff Partners acted as exclusive M&A advisor to Iress. Macquarie Capital acted as exclusive M&A advisor to Apex Group.
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About Apex Group
Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, and family offices. Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent.
Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals.
Apex Group leads the industry with a broad and unmatched range of services, including capital raising, business and corporate management, fund and investor administration, portfolio and investment administration, ESG, capital markets and transactions support. These services are tailored to each client and are delivered both at the Group level and via specialist subsidiary brands.
The Apex Foundation, a not-for-profit entity, is the Group’s passionate commitment to empower sustainable change.
About Iress
Iress (IRE.ASX) is a technology company providing software to the financial services industry.
We provide software and services for trading & market data, financial advice, investment management, superannuation, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.
