Bravura closes Mutual Fund acquisition

Bravura closes Mutual Fund acquisition

Financial services provider Bravura Solutions (ASX:BVA) has closed the acquisition of Mutual Fund Technologies for $32.1 million.

The company said the acquisition is key to increasing its presence in the transfer agency market.

The acquisition is expected to be earnings-per-share accretive and cash generative due to the presence of major long-term annual contracts.

But it is not believed to have come early enough to offset a decline in expected ebitda for FY10, as the company revealed this week.

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Tags Mergers and acquisitionssoftwareBravura

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