16th April 2021
ITM acquires Profund
Independent Transition Management Limited (ITM), the leading provider of data management and technology services to the pensions and financial services markets, will acquire the products and assets of Profund Solutions Limited, part of Mercer, a business of Marsh McLennan.
Founded in 2003, ITM specialises in pension-focused technology-led data management solutions, administration software and migration services, working with pension funds, providers, trusts and administrators as well as other generalist financial institutions. ITM utilises proprietary software and specialist expertise built over 15 years to provide critical and complex data services for its blue-chip clients in the private and public sectors. Headquartered in London, ITM currently employs around 130 staff across the UK, with additional offices in Guildford and Edinburgh.
Profund Solutions Limited is home to a 100+ client base of third-party administrators and individual schemes with excellent long-standing relationships, delivering pension administration and accounting software and recently ranked in the top 3 providers in the market. The acquisition of Profund further strengthens ITM’s position as a strategic partner for pension schemes and third-party administrators.
The combined Group will create a platform of scale in the Life & Pensions industry, with a broad suite of capabilities to deliver unparalleled value to clients and across the entire pensions market. The acquisition will also provide ITM with new offshore development & support capabilities to enhance the group’s scale and delivery functions.