Stockholm-headquartered InsurTech Lumera has entered into an agreement to acquire Acuity, a Devon-based consultancy specialising in pensions and workforce reforms for public sector pension schemes.
Acuity has long-standing relationships with some of the UK’s largest and most influential pension schemes, including the NHS and Civil Service Pension Schemes, as well as central government departments.
It delivers services across central government and the wider public sector, supporting high-profile projects ranging from major change and programme management initiatives to evidence-led communications strategies and campaigns.
Following completion of the acquisition, the business will join Lumera’s UK organisation, expanding the group’s UK workforce to around 165 employees. Financial terms of the transaction have not been disclosed.
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“Joining forces with Acuity adds major new clients and capabilities, in line with our strategy to strengthen our foothold in strategically important sectors in key markets,” said Jonas Alfredson, CEO of Lumera Group.
“Combining their proven expertise across health, central government and other public sector bodies, with our technology prowess will create new opportunities for further growth in the UK, enhance our client offering, help attract more clients, while reinforcing our commitment to being a trusted advisor to some of the biggest Life and Pensions providers across Europe.
“I am delighted to welcome their experienced and dedicated team to our business.”
Pippa Campbell, director of programmes at Acuity, added: “We are delighted to become part of Lumera.
“Our shared values of simplifying complexity and customer-first thinking in the complex world of pensions make Lumera the perfect partner for our consultancy team.
“We’re excited to bring our experience of programme management and behavioural insight to Lumera’s portfolio and look forward to helping shape the future of pensions advisory and pensions administration.”
Lumera now operates across the UK, the Netherlands, Norway, Sweden, India and Vietnam.
The company provides technology solutions for insurance administration, data management and migration, alongside services that combine technology and industry knowledge tailored to local markets.
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