Twenty7Tec has bought the remaining shares of AI chatbot Meet Parker for an undisclosed sum.

The technology firm originally made an investment in Meet Parker in August 2021. In that process, Twenty7Tec sales director Phil Bailey took on the role of Meet Parker managing director.

Bailey will now leave the company on a “Yet-to-be-announced next venture”, in the words of Meet Parker founder Freddie Savundra.

This acquisition creates a workforce of over 120 people spread across London, Bournemouth and the far East.

Twenty7Tec plans to incorporate Meet Parker into its Velocity platform to improve lead generation and retention for mortgage brokers and wealth managers.

The announcement comes just days after Twenty7Tec revealed that it had bought software tool Broker Sense.

Twenty7Tec chief executive James Tucker says: “Our overriding ambition is to simplify, streamline and digitise financial services. Over the last eight years, we have seen the huge benefits that great technology brings to the advice market. Our acquisition of Meet Parker, and the deployment of their artificial intelligence-led technology to all our users, is the obvious next step for us.

“This move will allow advisers to digitise the lead generation and new client onboarding parts of their business, as well as drive higher levels of retention. It is another step forwards in our plans to revolutionise the mortgage and wealth advice markets.”

Savundra comments: “Twenty7tec’s previous acquisition of Bluecoat Software… showed the company’s commitment to creating a seamless client journey with best of breed technology, which is the foundation of what we are trying to achieve here.

“Meet Parker has been a huge success in the financial services market, and this acquisition will transform how those working in the mortgage and wealth markets communicate with customers. It’s an exciting time for us all, and we are looking forward to seeing what the future holds.

“Finally, I’d like to say thanks to Phil Bailey, who is leaving having helped both Twenty7tec and Meet Parker on their expansions. Phil has been a great ambassador for technology in the intermediary market and we wish him well with his yet-to-be-announced next venture.”