ITM has announced that it has acquired Faraday Tracing Bureau (FTB) for an undisclosed sum.

FTB provides specialist tracing services for providers, schemes and third party administrators in the private and public sectors.

The acquisition provides a natural extension to ITM’s proposition enabling development into adjacent markets whilst maintaining focus on data quality and accuracy. ITM’s CEO Darran Blount said FTB’s core services form a fundamental role in data improvement and integrity.

“We can now deliver this with the addition of FTB’s capabilities - which we will continue to build upon. Demand for our data services has never been greater as our clients look to improve data for a number of strategic reasons,” he said.

FTB managing director Ian De Souza expects to see technology and service providers continuing to focus on data accuracy as the industry needs greater understanding of members; both for regulatory compliance and long-term planning.

“FTB has worked with ITM in the past and share many common clients. I believe we are a good fit for ITM, and my team and I are thrilled to join them”.

ITM specialises in technology-lead data audit, management, administration and migration services, working with pension funds, providers, trusts and administrators as well as wider financial institutions. ITM currently employs 140 staff across 3 offices in the UK.

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