New York-based Rockefeller & Co. Inc., a wealth and investment management firm, and Fi-Tek, an Edison-based financial technology company, announced Thursday that Fi-Tek has acquired Rockefeller & Co.’s Rockit Solutions business.As per the deal, Rockefeller & Co. is entering into a long-term arrangement with Fi-Tek to deliver information management services for itself and its clients.
“This transaction acknowledges the leadership of Rockit Solutions in back-office technology for the wealth management industry and speaks to the strength of its technology infrastructure and the quality of the entire Rockit Solutions team of professionals. We look forward to working with Fi-Tek as they further enhance and develop Rockit’s operational, technology and reporting platform for the benefit of our organizations and our respective clients going forward,” Reuben Jeffery III, chief executive and president of Rockefeller & Co., said in a prepared statement.
“We are excited about this opportunity to leverage and extend the strengths of the Rockit Solutions platform, and to work with Rockefeller & Co. in an ongoing servicing capacity. We have long admired the Rockefeller & Co. organization and the Rockit Solutions business, and we believe this acquisition will enable us to build on our mission of offering premier financial technology solutions and services addressing the complex needs of financial services providers,” Subir Chatterjee, founder, president and chief executive of Fi-Tek, said in a prepared statement.
The transaction is expected to close on or about Feb. 1. Financial terms of the deal were not disclosed.