BetaNXT Names WealthTech Veteran Robert Santella as CEO in Planned Transition
May 29 2024 / 4 Minute Read
Stephen C. Daffron, will Remain Engaged with BetaNXT as Executive Chairman, Effective July 1, 2024
Acquisition Strengthens BetaNXT’s Ability to Further Simplify Complex Investment Fund Operations While Increasing Transparency and Reducing Risk
New York, NY — (PR Newswire) — BetaNXT, a provider of wealth management technology solutions with real-time data capabilities and an enhanced advisor experience, announced today certain affiliates of BetaNXT have acquired Delta Data, a provider of global investment fund solutions. With the acquisition, BetaNXT continues to strengthen its ecosystem of wealth management technology solutions.
Delta Data is expected to expand BetaNXT’s suite of product capabilities with:
- trade management, mutual fund sub-accounting and revenue management for wealth managers;
- transfer agent functionality, fee management and compliance tools for asset managers.
“We are always enthusiastic about acquiring enterprises that improve the client experience,” said Bob Santella, CEO of BetaNXT. “Delta Data’s products, and commitment to simplifying investment fund processing and oversight through innovative technology that enables data connectivity, will enhance our ability to address pain points for a broader spectrum of clients in the asset and wealth management industry.” Founded in 1985, Columbus, GA-based Delta Data specializes in providing operational software solutions tailored to three primary segments of the asset management industry—fund distributors, asset managers and transfer agents. Its technology supports and streamlines mutual fund transaction processing and related data management, driving efficiency and mitigating risk. Its existing customers include four of the top 10 U.S. banks, three of the top five U.S. retirement plan recordkeepers, and 23 of the top 25 U.S. asset managers.
Backed by Clearlake Capital Group and Motive Partners, BetaNXT brings together wealth management solutions into a single, integrated platform. Delta Data’s technology solutions will be fully integrated with BetaNXT DataXChange, which simplifies the exchange of data for wealth management firms and their partners. By streamlining all data within a flexible and connected experience, DataXChange helps optimize what that data can do for fund distributors, asset managers and transfer agents, as well as their clients and partners.
“Joining forces with BetaNXT is the next logical step in our ongoing growth and expansion,” said Cameron Routh, CEO of Delta Data. “We believe that BetaNXT’s solutions, which power the Connected Wealth experience, will take our offerings for the mutual fund and pooled fund space to the next level, and allow the distributors, asset managers and transfer agents we work with to do more with their data than they ever imagined.”
BetaNXT was advised by Sidley Austin LLP. Delta Data was advised by D.A. Davidson LP and JonesSpross LLP.
About BetaNXT
BetaNXT powers the future of Connected Wealth by investing in platforms, products, and partnerships to accelerate growth, with a focus on providing frictionless wealth management enterprise solutions, real-time data capabilities, and enhanced advisor experience. Through its software, data, and operations-as-a-service approach, BetaNXT empowers its clients with flexible, efficient, connected solutions that anticipate their changing needs. BetaNXT’s comprehensive model reduces enterprise cost, streamlines operations processes, increases advisor productivity, and strengthens the investor experience. Together with BetaNXT, wealth management firms are transforming their platforms into differentiating assets that enable enterprise scale and stimulate commercial growth. For more information n visit www.betanxt.com.
Alexandra Shafer & Madison Vance
JConnelly for BetaNXT
+1 (973) 934-5100
betanxt@jconnelly.com
Laura Barger
Head of Marketing and Communications, BetaNXT
+1 (888) 949-9957, option 3
mediarelations@betanxt.com
About Delta Data
Delta Data is a trusted provider of technology solutions for the mutual fund and pooled fund industry, processing trillions of dollars in assets for top financial institutions.
Its industry-vetted SaaS integrated suite is trusted by four of the top 10 U.S. banks, three of the top five U.S. retirement recordkeepers, and 23 of the top 25 U.S. asset managers. Delta Data empowers financial companies to navigate the complex regulatory landscape and mitigate risk through efficient data management and streamlined automation.
Claudine Martin
Head of Marketing, Delta Data
+1 (508) 341-2123
cmartin@deltadatasoft.com
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused, approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational approach, O.P.S.® The firm’s core private equity target sectors are technology, industrials, and consumer. Clearlake currently has over $90 billion of assets under management and its senior investment principals have led or co-led over 400 investments, and has deployed over $57 billion in liquid and illiquid credit investments globally. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, Luxembourg, Abu Dhabi, UAE, and Singapore. More information is available at www.clearlake.com.
Jennifer Hurson
Clearlake Capital Group Media Contact – Lambert
+1 (845) 507-0571
jhurson@lambert.com
About Motive
Motive Partners is a private investment firm exclusively focused on financial technology and technology-enabled business services companies, ranging from early-stage ventures to growth equity and buyout, primarily based in North America and Europe. The firm invests across five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Insurance, and Wealth and Asset Management, and Motive Partners portfolio companies benefit from the firm’s fully integrated, proven Investor, Operator, Innovator (IOI) model, which brings together world-class fintech leaders and capabilities with deep industry knowledge, insight and experience. With offices in New York City, London, and Berlin, Motive Partners delivers differentiated expertise, connectivity, and capabilities to create long-term value in financial technology companies. More information on Motive Partners can be found at www.motivepartners.com
Britt Zarling
Motive Partners
+1 (414) 526-3107
britt.zarling@motivepartners.com