Focus Solutions acquisition set to boost Standard Life growth

THE £42m acquisition of Warwickshire software group Focus Solutions is set to boost the ongoing performance of Standard Life, the company said today.

Announcing a 16% increase in fee based revenues to over £1.1bn, Standard Life said the acquisition of the Leamington firm was in line with its plan to deliver a long-term customer-focussed savings and investments strategy.

It said the acquisition had brought to the company a leading provider of software and consultancy and would allow it to accelerate its multi-channel distribution strategy by offering end-to-end solutions to IFAs, bank distribution partners, and end customers.

Chief executive David Nish said: “Standard Life had a good year in 2010. Our financial performance has been strong, with higher net flows and markets increasing the value of assets and revenues and leading to growth in profits.

“We’ve also made significant operational progress to drive efficiencies and are on track to meet our target of £100m of margin improvement by 2012.

“We’ve refocused our portfolio and the acquisitions of threesixty, Focus Solutions and Aida Capital have strengthened our capabilities and accelerated the delivery of our strategy.”  

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