Scotland business

Standard Life buys Focus for £42m

Standard Life sign
Image caption Standard Life says the acquisition will boost its customer services

Standard Life has agreed to buy the financial software company Focus Solutions Group for £42m.

The Edinburgh-based insurer said it was offering 140p-per-share for Focus - a 9.8% premium on the company's share price.

Focus Solutions handles software and consultancy work for financial services companies.

Standard Life said the acquisition would improve its range of products for customers and boost its business.

The group's chief executive David Nish said: "This strengthens the overall position of the group as the UK market for our propositions and services develops further over the next two years."

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