Linedata Services has signed a deal worth just under 4m with Capita, a UK provider of professional support service solutions, for Icon, Linedata Services’ back-office fund management and administration solution.
Initially, Icon will be used in Capita PPML’s SIPPS and Life & Pension Investment Administration business in the UK and Ireland to deliver a centralised solution.
Steve Parkinson, Managing Director of Capita Life and Pensions, The Capita Group Plc explained, “We have a strong growth strategy and have made a number of successful acquisitions over the past 12 months and in order to streamline our processes and manage future business volumes we have identified Linedata Services’ Icon product as our preferred solution on the basis of its unrivalled functionality and proven long-term viability.”
Paul Roberts, Chief Operating Officer at Linedata Services (UK) Ltd, commented, “We are delighted that Capita Life and Pensions have chosen Icon to manage their investment administration. I am looking forward to a successful, long-term relationship with Capita and I believe that Icon’s unique, multi-enterprise functionality provides a truly scaleable solution for Capita, which is a particularly good fit for their acquisitive business.”