BetaNXT, a technology provider for the wealth management industry, has acquired Delta Data, a specialist in global investment fund solutions, in a move to broaden its capabilities and strengthen its position in the financial services technology ecosystem.
The acquisition, made through certain affiliates of BetaNXT, aims to enhance the firm’s suite of offerings by integrating Delta Data’s expertise in trade management, mutual fund sub-accounting, and revenue management for wealth managers, as well as transfer agent functionality and compliance tools for asset managers.
Founded in 1985 and headquartered in Columbus, Georgia, Delta Data delivers operational software solutions tailored for fund distributors, asset managers, and transfer agents.
The company supports mutual fund transaction processing and data management for a client base that includes four of the top 10 U.S. banks, three of the five largest U.S. retirement plan recordkeepers, and 23 of the 25 largest U.S. asset managers.
The transaction underscores BetaNXT’s strategy of expanding its real-time data and operations-as-a-service capabilities, according to the announcement.
Delta Data’s technology will be integrated into BetaNXT’s DataXChange platform, which facilitates streamlined and flexible data sharing among wealth management firms and their partners.
The integration is expected to enhance BetaNXT’s ability to address key operational pain points for a broader segment of the asset and wealth management value chain.
The acquisition also positions BetaNXT to deliver a more comprehensive “Connected Wealth” experience, helping firms to improve advisor productivity, operational efficiency, and client engagement.
Backed by Clearlake Capital Group and Motive Partners, BetaNXT is investing heavily in expanding its product platform through strategic acquisitions.
Legal counsel for BetaNXT was provided by Sidley Austin LLP, while Delta Data was advised by D.A. Davidson LP and JonesSpross LLP.
The deal, according to analysts, reflects increasing consolidation in the wealthtech space, as technology providers seek scale and integrated capabilities to meet growing demand from financial institutions for digital transformation and data connectivity.