TrustQuay, a UK-based technology provider that caters to the trust, corporate, and funds services sector, has agreed to merge with Viewpoint, a wealth management solution provider.

The merger of the two UK-based firms is aimed at expediting automation and digitalisation across trust, corporate, and funds services.

The financial terms of the transaction were not disclosed.

Through their combination, the companies expect to bring together 270 people across 12 offices across the globe.

As a combined entity, TrustQuay and Viewpoint will expand their research and development (R&D), customer services, professional services, and business development.

According to TrustQuay, the enlarged group will facilitate further product innovation and offer combined services to customers across Europe and Asia.

TrustQuay offers practice management, entity management, client accounting, compliance, and workflow software for trust, corporate, and funds service providers.

It is claimed to serve over 360 customers and has a user base of over 26,000 in more than 30 jurisdictions.

TrustQuay Group CEO Keith Hale said: “Both businesses have distinct strengths and together we bring a ‘best of both worlds’, enabling us to better serve customers globally, with a stronger footprint across Europe and Asia Pacific, and to further accelerate automation and digitalisation globally.

“Our greater scale will not only significantly benefit our customers, but also the wider trust, corporate and fund services sector and indeed the wider corporate sector as a whole.”

Viewpoint is engaged in providing entity governance and administration solution for over 300 clients in more than 80 jurisdictions.

The firm caters to the combined needs of commercial entity management service providers including trust and corporate service providers, and governance professionals in the PLC, unit trust, family office, and law and accounting sectors.

Viewpoint CEO Rolf Heemskerk said: “Working together with TrustQuay as a singly focused, client centric, global solution and service provider, the merger creates an amazing opportunity to optimise the unique organisational and team strengths.”

Subject to regulatory approval, the transaction is anticipated to close by mid-2023.