SOUTHAMPTON-based insurance giant Skandia has set in motion a £210m plan to boost the services it provides to independent financial advisers.
Skandia wants to buy Oxford-based IT services group Lynx in a deal that recognises the growing importance of IFAs in the UK insurance market.
The Swedish firm, which has its UK headquarters in Southampton, and sponsors Cowes Week, has tabled a £210m offer for Lynx.
If successful, it will sell Lynx's core IT business for £60m to a management buy-out team, leaving it with subsidiary Bankhall - the UK's largest provider of support services for IFAs.
Alan Wilson, head of Skandia's UK operations, said: "This acquisition is entirely in line with Skandia's global strategy of expanding and deepening our co-operation with financial advisers. The acquisition of Bankhall will help accelerate the development of new services for this expanding market.''
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