Birmingham tech firm Delta Financial Systems has been acquired by Sydney-headquartered Bravura Solutions. 

A member of BusinessCloud’s Midlands Tech 50 ranking, Delta provides technology to power complex pensions administration and has more than 30 clients in the UK. 

The deal, for a total consideration of up to £23 million, is expected to go through before the end of October. 

“We are delighted that Delta is joining Bravura. Both businesses have complementary products that together, provide a compelling offering to support the mission-critical operations of wealth management firms in the UK,” said Bravura CEO Tony Klim. 

Michael Power, CEO and co-founder of Delta, said: “Bravura is a leader in the UK wealth management marketplace and Delta’s products sit perfectly alongside Bravura’s offering.  

The Delta management team look forward to working together with Bravura to deliver outstanding service to both Bravura’s clients and Delta’s clients.”