Defaqto has moved to reassure staff that there will be no job losses as a result of its takeover by SimplyBiz.

Asked whether there were any plans to restructure the firms or close offices, a spokeswoman said: “No. SimplyBiz will continue to operate from its base in Huddersfield and Defaqto will continue to operate from its existing offices in Haddenham.”

She also confirmed no jobs would be lost as a result of the new arrangements, which has seen the combined staff of the new company reach 530.

Both firms will also retain distinct identities.

The spokeswoman added: “We will operate as Defaqto, part of the SimplyBiz Group.”

Adviser support company SimplyBiz revealed its intention to buy technology and data provider Defaqto in a deal worth a total of £74.3m this morning.

SimplyBiz will acquire the entire share capital of Regulus Topco Limited, owner of Defaqto.

Defaqto operates a fintech platform for 8,500 advisers and provides ratings for 21,000 financial products and funds. Its ratings are used by 230 brands.

SimplyBiz, founded by IFA entrepreneur Ken Davy, says the combination of SimpyBiz and Defaqto will create a bigger fintech and support services group and enable both firms to expand into new areas.

Defaqto will help the group move into the general insurance and banking markets.

SimplyBiz will offer Defaqto more access to the advisory and asset management markets.