Class acquires NowInfinity

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 developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 3 months ago
Kevin Gorman

Super director remuneration ...

1 year 3 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 3 months ago

The RBA’s new monetary policy board has delivered its first rate decision....

21 hours 42 minutes ago

A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor....

1 day ago

Qantas Super has officially merged with ART over the weekend, with its CEO describing the “bittersweet” decision as being in the best financial interests of its members....

1 day ago

TOP PERFORMING FUNDS