Novigi acquires Iress’ superannuation consulting and managed services business

Specialist data and technology services provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.

The acquisition immediately follows Apex Group's acquisition of the Iress superannuation business, including the Acurity software suite.

As part of the transaction, over 100 specialised superannuation consulting and technology services consultants have joined Novigi, bolstering its total headcount to nearly 400 people.

Novigi CEO Ash Priest said the transaction is an integral component of the company's growth strategy, demonstrating its commitment to strategic and sustainable growth.

"Our collaboration with Apex Super has been a highlight of Novigi's growth trajectory and we’re excited about the future," said Priest.

Last year, Apex Group appointed Novigi to manage the data and administration technology function for its Australian superannuation business, Apex Super.

The partnership aimed to combine Novigi’s regional superannuation expertise with the global fund administration capabilities of Apex and built on a prior collaboration between the two firms.

“As the data and technology partner to the superannuation and wealth management industry, Novigi needs to provide leading services at scale around the most relevant technologies for the sector," said Priest.

"The highly regarded Acurity software suite is deeply embedded in the wealth management sector, and this transaction enhances our ability to meet growing market demand with unparalleled expertise,” said Priest.

Apex regional MD of Asia Pacific, Nicholas Happell,  said by dividing the business in this way, each entity focuses on its core competencies.

"Apex Super will leverage its global expertise to deliver the Acurity core and peripheral product development and leading administration services, supported by Novigi's proficiency in managing and improving the underlying technology stack and services," he said.

"We will also work together to develop our combined software applications into a market-leading ecosystem, with the end result being simpler service and increased technology investment, improving the experience for all software users, administration clients and members."

2024 also saw Novigi partner with Commonwealth Superannuation Corporation to migrate data systems for five superannuation schemes to a unified administration platform, as well as integrating existing systems to the platform and support the platform operations for seven years.