Carlyle Group has agreed to acquire London-based financial software provider intelliflo from Invesco in a transaction valued at up to $200m, Bloomberg reports.

The deal, which comprises $135m payable at closing and as much as $65m in potential earn-outs, will see intelliflo strengthen Carlyle’s portfolio of technology-driven financial services investments.

Founded in 2004, intelliflo provides financial planning and management software used by more than 30,000 professionals across approximately 2,600 advisory firms. As part of the transaction, intelliflo’s US-based subsidiaries will become a separate business called RedBlack, led by its own management team.

Atlanta-based Invesco acquired intelliflo in 2018 from Hg for an undisclosed amount.

The acquisition underscores Carlyle’s focus on scaling technology-enabled platforms that support the evolving needs of financial advisors, amid growing demand for digital tools in wealth and asset management.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.