Class acquires NowInfinity

SMSF/Class-Limited/NowInfinity/Amreeta-Abbott/andrew-russell/acquisition/

28 January 2020
| By Mike |
image
image
expand image

Self-managed superannuation fund technology platform, Class Limited has acquired NowInfinity.

Class announced that it had acquired NowInfinity, a corporate compliance and documentation technology company, founded by Amreeta Abbott.

The transaction involves the acquisition of all the share in NowInfinity3505 Pty Ltd for a maximum enterprise value of $25 million with the purchase being structured with a $10 million upfront payment on completion, plus $10 million in Class shares escrowed for two years.

Class said it expected the transaction to be earnings per share accretive in the 2021 financial year.

Commenting on the transaction, Class chief executive, Andrew Russell said NowInfinity was an attractive opportunity which would allow Class to expand its role across the professional services ecosystem.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS