Iress acquisition of OneVue approved by shareholders
The Iress acquisition of OneVue has moved a step closer with OneVue shareholders today having voted in favour of the transaction.
Iress has announced to the Australian Securities Exchange that the resolution to approve the acquisition scheme had been approved by the requisite number of shareholders.
It said that the scheme now remained subject to court approval with ahearing set down for Wednesday, 28 October.
“If the Scheme is approved at this hearing, the Scheme will proceed with the implementation date currently scheduled for 6 November 2020 at which time OneVue shareholders will receive the Scheme consideration of 43 cents cash per share,” the Iress announcement said.
Iress chief executive, Andrew Walsh, said: “We are pleased with the outcome of the OneVue Scheme meeting today and look forward to working with OneVue management to complete the transaction over the coming months. We would like to take this opportunity to thank OneVue shareholders, directors and management for their commitment to pursuing this outcome.
“This is a strong opportunity to combine OneVue’s strength and position in administration of managed funds, superannuation and investment, with Iress’ strength in software and data, which provides the combined entity with the opportunity to drive innovation through technology.”
Recommended for you
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
Nuveen has appointed a global head of estate, a successor to Chris McGibbon who steps down after almost 25 years.
