Berwyn-based Archer Holdco will be acquired by Bank of New York Mellon in a deal that is expected to close in the fourth quarter, writes Jeff Blumenthal for the Philadelphia Business Journal. 

The fast-growing fintech offers managed account software to the asset/wealth management industry. The company primarily focuses on providing middle- and back-office software to help with addressing the managed account needs of institutional, private wealth, and retail investors. 

Founded in 2000, Archer made the Inc. 5000 list of the fastest-growing businesses in the nation for the past two years. The firm placed at No. 3,840 in 2023 with a three-year revenue growth of 122 percent. This year, Archer placed at No. 4,930 with a revenue growth of 75 percent. 

According to the firm’s CEO, Bryan Dori, the deal with BNY was made easier as both companies are each other’s clients. 

The acquisition gives Archer “broader capabilities across the bank that we can offer our clients and, conversely, BNY now can offer their clients the ability to support things like separately managed accounts, model delivery, and direct indexing for their client base,” said Dori. 

Read more about Archer Holdco being acquired by Bank of New York Mellon in the Philadelphia Business Journal. 

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