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Professional services business JTC said it had acquired Segue Partners, a fund services provider head-quartered in St. Louis, Missouri, USA.
The initial consideration will be settled in cash and JTC equity. A further consideration is available on the achievement of performance targets in 2022 and 2023.
'Segue will enhance JTC's fund services presence in the US, providing an additional scalable platform that is well positioned for growth and complements the group's existing US footprint, including its focus on world-class technology,' the company said.
In the financial year ending 31 December 2020, Segue delivered revenue of $1.5 million, a 17% increase from the previous year and underlying EBITDA in excess of 20%.