iAltA Holdings, a private markets infrastructure company, has announced its acquisition of Precept, an AI-powered wealth technology platform. This strategic move is designed to transform how system integrations are built and deployed across the fintech industry. The deal, for which financial terms were not disclosed, is the second major purchase for iAltA's growing Wealth vertical this year.
Revolutionizing Wealthtech Connectivity
Precept directly addresses the persistent industry challenge of slow, expensive, and brittle system integrations. Its platform enables product and engineering teams to deploy connections across custodians, CRMs, and portfolio management systems in real-time. This capability eliminates the development backlogs and long maintenance cycles that have traditionally hindered technological agility in wealth management.
The platform acts as a universal gateway, standardizing and mapping data from any source, including legacy flat files or scanned documents. It uses standardized Portable Data Mapping (PDM) files, and its AI agent can generate new integrations from resources like API documentation. This standardized approach ensures that all data sources can interface seamlessly regardless of their original format.
A Strategic Move for Unified Infrastructure
According to Bill Crager, a Founding Partner at iAltA, this acquisition is key to strengthening the company's market position. He stated that combining BridgeFT’s leadership with Precept’s innovations will help unify the infrastructure underpinning public and private markets. The move is central to iAltA's mission of solving systemic challenges with operational precision.
Mark Ovaska, Co-Founder and CEO of Precept, affirmed that the company's goal has always been to deliver deep integrations across any system. He expressed that joining iAltA will significantly accelerate the delivery of Precept’s approach across a wider array of platforms. This partnership provides the necessary scale and resources to advance their mission within a larger, synergistic ecosystem.
iAltA's Rapidly Growing Ecosystem
Launched in 2025 with backing from Laurence Tosi's WestCap, iAltA was founded by industry veterans Scott Ganeles, Bill Sherman, and Bill Crager. The firm employs a unique holding structure that blends core shared capabilities with the specialized technologies of its subsidiaries. This model allows each company to operate independently while contributing to a unified digital ecosystem.
The Precept acquisition follows the purchase of BridgeFT in January, solidifying the company's Wealth vertical. In the past year, iAltA’s Private Markets vertical has also expanded by acquiring Verivend, Betterfront, and Delio. These strategic acquisitions highlight iAltA's aggressive strategy to build a comprehensive infrastructure for modern financial markets.
This acquisition marks a significant step for iAltA in its quest to modernize the foundational technology of the financial services industry. By integrating Precept's advanced AI capabilities, the company is better equipped to eliminate long-standing integration hurdles for wealth management firms. The move ultimately reinforces iAltA's strategic vision of creating a seamless, unified infrastructure for both private and public markets.