Fintech and adviser support services firm Fintel has splashed out £11m to buy Pearson Ham Group’s market pricing business.
The business supplies proprietary pricing data to the UK insurance industry and will become part of Fintel’s ratings and software business Defaqto.
Fintel said the product and pricing data, coupled with generative and AI capabilities, will power the growth of Defaqto’s recently-launched Matrix 360 platform, which serves 22 insurers, as well as Defaqto ratings.
The firm said the acquisition was expected to generate revenue of £2.6m in 2026 and deliver EBITDA of £0.9m.
Fintel said the acquisition will be net earnings accretive in 2026, taking into account the incremental interest cost on increased borrowing and tax payable on additional profits.
John Milliken, Fintel’s software and data CEO and CEO of Defaqto, said: “The Pearson Ham Group pricing business is a profitable, growing, cash generative business with a rich historic data set and a strong value proposition that is invaluable to the UK insurance industry.”
He said: “The winners in the AI economy will be those with unique, valuable, proprietary data and expertise who can also innovate to benefit their customers. Through the combination of unrivalled product and pricing data Defaqto have the tools to help the industry to better understand and deliver consumer value.”
Fintel owns a number of UK fintech and support businesses including Defaqto, Simplybiz and Threesixty. The group's revenue increased by 18.6% to £42.4m in the six months to the end of July.
The firm said underlying organic growth stood at 4.2%, with SaaS & subscription revenues were up 21% to £24.2m. The group's adjusted profits climbed by 17% to £11.2m while its cash position stood at £8.4m, with net debt at £30.1m.