- 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
