iAlta Acquires Precept with Aim to Connect Disparate Systems

iAltA Holdings, a private markets infrastructure firm, announced the acquisition of Precept on April 29, 2026. This acquisition represents the second expansion for iAltA in the wealth technology vertical following the earlier purchase of BridgeFT in January. Precept operates as an AI powered integration platform designed to help wealth management providers and fintech companies build and maintain system integrations more efficiently. The deal aims to address long standing issues with slow and expensive development cycles that often hinder technological updates within the industry.

Precept provides an AI powered gateway that connects various financial systems including custodians, clearing firms, and portfolio management platforms. The platform uses standardized Portable Data Mapping files to allow product teams to deploy integrations in real time without the need for manual engineering. By utilizing an AI agent to interpret API documentation and legacy files, Precept can generate new connections instantly. This technology is designed to eliminate backlogs and allow firms to respond to integration requests with significantly reduced operational friction.

Leaders of both companies emphasize that the move will unify the infrastructure supporting both public and private markets. Bill Crager, a founding partner at iAltA, noted that the combination of Precept and BridgeFT positions the company to solve persistent constraints in the wealthtech space. Mark Ovaska, the chief executive officer of Precept, will join iAltA to accelerate the delivery of this standardized integration approach. For wealth managers and platforms, the acquisition promises more seamless data flow across disparate systems and a faster path to scaling digital ecosystems.

MM Note: iAlta is on a buying rampage! As solutions keep popping up left and right, an integration without any manual engineering is actually quite powerful. I think the solution is much bigger than just alternatives, but excited to see where this goes nevertheless.