The acquisition immediately follows Apex Group’s acquisition of the Iress Superannuation business, including the Acurity software suite, and is another significant step forward in the close collaboration between Novigi and Apex.

As part of the transaction, over 100 specialised superannuation consulting and technology services consultants have joined Novigi, bolstering its total headcount to nearly 400 people.

Ash Priest, CEO at Novigi said, “The transaction is an integral component of our growth strategy, demonstrating our commitment to strategic and sustainable growth. Our collaboration with Apex Super has been a highlight of Novigi’s growth trajectory and we’re excited about the future.”

The Apex Superannuation and Novigi operating model brings together best-of-breed capability to build, deploy and operate world-class data and technology solutions. These strengths underpin the delivery of exceptional member services and highly adaptable administration solutions. By aligning each party to its core competencies, this strategic division of assets eliminates redundancy and enhances value across the broader ecosystem.

“As the data and technology partner to the superannuation and wealth management industry, Novigi needs to provide leading services at scale around the most relevant technologies for the sector. The highly regarded Acurity software suite is deeply embedded in the wealth management sector, and this transaction enhances our ability to meet growing market demand with unparalleled expertise,” said Priest.

Nicholas Happell, Regional Managing Director, Asia Pacific at Apex said “This latest transaction ensures that the acquisition of Iress’ superannuation business will deliver the best results for the industry. By dividing the business in this way, each entity focuses on its core competencies. Apex Super will leverage its global expertise to deliver the Acurity core and peripheral product development and leading administration services, supported by Novigi’s proficiency in managing and improving the underlying technology stack and services. We will also work together to develop our combined software applications into a market-leading ecosystem, with the end result being simpler service and increased technology investment, improving the experience for all software users, administration clients and members.”

“We are also delighted to welcome another highly skilled team that will enhance our capabilities and align with our strategic vision. We look forward to integrating this talented group into the Novigi operating model,” Priest concluded.

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Andrew Peterson

Apex Group Australia has announced it has been awarded the $7 billion Diversa Trustees Limited Superannuation master trust business.

Apex Group has been appointed as the administration partner for Diversa funds on a long-term agreement after winning a competitive tender process.

The client win comes after Apex Group Australia’s acquisition of the Iress superannuation business in January, as well as sustained success of Apex Group in the superannuation sector, and proven delivery of transition work over the last two years.

The Diversa Trustees business will be delivered and managed via the Apex Superannuation technology stack, including Apex Group’s market-leading Acurity platform, which it expects to take over following the successful completion of the Iress purchase in the second quarter of this year.

Nicholas Happell, Regional Managing Director – Asia Pacific at Apex Group, said: “Being selected by Diversa further reinforces the strength of our superannuation offering in Australia. We have invested a lot of time and focus on our superannuation business over the past 24 months and this partnership is testament to our capabilities in this space. Our local team is proud of this new partnership and committed to delivering the highest level of service to Diversa, in turn enhancing the value it delivers to its own customers.”

Diversa CEO Andrew Peterson said: “Apex Group has a track record of outstanding delivery in Australia, particularly in recent times. Apex Group’s ability to deliver an unbundled service is of particular benefit, and we see real potential to leverage off Apex Group’s robust technology platform and integration capability, supporting our promoter stakeholders and unlocking scale and efficiencies and achieving better results for our clients.”

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