JOBS will be safeguarded and more could be created following the sale of the Isle of Wight’s largest financial services company.
Subject to FCA approval, Ryde-based Annuity Direct and its holding company, Retirement Angels, will be acquired by Fidelity Worldwide Investment for an undisclosed sum.
Director Bob Bullivant, who relocated the company to the Island from London in 2008, said it was good news for the Island.
He said: "It is a compliment to the quality of our people we have been acquired by one of the largest investment houses in the world and potentially means that, in due course, more jobs will be created on the Island."
Annuity Direct, which will retain its independent financial adviser status, was established in 1992 and traded in London until it was taken over by the Partnership Group in July 2007.
Mr Bullivant relocated it to the Innovation Centre, Dodnor, with just six staff. The company now employs 30 staff at Pascall House, Ryde.
Fidelity said the acquisition would provide customers with greater choice and support at retirement.