Aquila Software Completes Acquisition of Financial Risk Solutions Ltd (“FRS”)

Miami, FL – Dec 12, 2018 – Aquila Software (“Aquila”) announced today that it has closed the acquisition of FRS. FRS is the developer of the Invest|Pro™ product, a comprehensive Investment Administration Software solution for the life assurance and pensions industries.

“FRS is a tremendous team of individuals that due to their domain knowledge and close relationships with their clients have had great success in the market. All characteristics we value highly. We are excited to welcome them to the Aquila family and look forward to working closely with them” said Mike Byrne, CEO of Aquila. “We know that the leadership at FRS have set high goals for themselves to achieve their vision and provide great value to their clients and we are happy to assist in that focus”.

Peter Caslin, CEO of FRS said “This is superb news for clients and staff of FRS. The Aquila philosophy of ‘buy and hold forever’ and their financial strength were key factors for FRS in deciding to join Aquila. These characteristics will underpin the long-term relationships FRS has developed with its loyal blue-chip client base. As part of the Aquila family FRS will further develop its award-winning products and expand the software’s geographical reach. We are looking forward to working with the Aquila team.”

About Aquila Software:

Aquila is focused on providing great solutions to Housing, Finance, Banking, Insurance, Higher Education, Travel & Public Sectors throughout North America and Europe. Aquila’s businesses focus on long-term relationships where our mission critical solutions evolve with our client’s business needs. Further information concerning Aquila Software may be obtained through their website at www.aquilasw.com

About FRS:

FRS is a premier provider of unit-linked investment administration and fund accounting software for the life assurance and pensions industries. Founded in 1999, FRS has grown through solving complex problems for life and pensions companies. Further information concerning FRS may be obtained through their website at www.frsltd.com

CONTACT:
Michael Sopivnik
VP, M&A EMEA
Aquila Software
msopivnik@aquilasw.com

For FRS Media enquiries:
Alice Thomas
MD Consulting
alice@mdconsulting.com

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