Carlyle to acquire intelliflo from Invesco

Global investment firm Carlyle (NASDAQ:CG [https://seekingalpha.com/symbol/CG]) has agreed to acquire Intelliflo, a UK-based provider of cloud-based practice management software for independent financial advisors (IFAs), from Invesco (NYSE:IVZ [https://seekingalpha.com/symbol/IVZ]).

The transaction includes intelliflo's U.S.-based subsidiaries, including RedBlack, a provider of SaaS-based portfolio rebalancing tools, and intelliflo Portfolio, a portfolio management software solution for U.S. Registered Investment Advisors (RIAs).

The purchase price of up to $200 million is comprised of $135 million at closing, which is expected in the fourth quarter of this year, and up to an additional $65 million in potential future earn outs.

Founded in 2004 and headquartered in London, intelliflo offers an end-to-end software platform used by over 30,000 professionals at approximately 2,600 advisory firms, supporting the management of approximately £450 billion in client assets.

The transaction aims to strengthen intelliflo's market-leading position in the UK and accelerate its growth in Australia.

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