This is the first acquisition for ITM since it completed a management buyout in May this year.
Faraday Tracing Bureau offers specialist tracing services for pension providers, schemes and third party administrators in both the public and private sector.
ITM says this was a “natural extension” to its proposition. ITM specialises in technology-led data audit, management administration and migration services, working with pension funds, providers, trusts and administrators.
ITM chief executive Darran Blount says: “FTB’s core services form a fundamental role in data improvement and integrity; a service that is incredibly important to our clients.
“We can now deliver this with the addition of FTB’s capabilities – which we will continue to build upon.”
Faraday Tracing Bureau managing director Ian De Souza says he expects to see technology and service providers continuing to focus on data accuracy as the industry needs greater insight and understanding of members; both for regulatory compliance and long term planning.
He adds: “FTB has worked with ITM in the past and share many common clients.”