BankingFinTech

Class Limited: Announces acquisition of documentation provider Smartcorp

  • The transaction comprises an upfront cash payment of $2.73m on completion, plus $1.47m in Class shares escrowed for 18 months
  • The transaction is expected to be completed by 20 August 2020, and to be earnings accretive in FY21
  • Smartcorp was founded in 1979 and in 2003 launched Australia’s first online company ordering and ASIC compliance system
  • Smartcorp is one of the pioneers in this segment, and when combined with NowInfinity will see Class with approximately 10% market share by revenue
  • Class has a well recognised and established market share of almost 30% in Australia’s SMSF administration software
  • This acquisition will also offer Smartcorp clients a broader range of products and services
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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