Hub24 reaches fintech acquisition agreement
Platform provider Hub24 has announced it has executed a binding agreement to acquire a Brisbane-based fintech firm, aiming to “complement their core offering to independently-minded advisers”.
Agility Applications is a specialist provider of application, data exchange and technology products and services, currently servicing around 40 per cent of Australia’s stockbroking market, according to a statement.
Hub24 said the acquisition is subject to customary conditions precedent with an estimated completion date of early January 2017.
Agility will operate as a wholly-owned subsidiary of Hub24, retaining its own corporate identity and head office in Brisbane.
Hub24 managing director Andrew Alcock said, “Together, Hub24 and Agility aim to be the leading provider of wealth management platform and financial technology services to the stockbroking and non-aligned advice market.
“We will have the capabilities to develop and offer an end-to-end suite of solutions across a broader set of wealth management business models.”
Agility director and co-founder Paul Biggs said the deal will benefit their existing clients, in addition to client prospects.
“We view this transaction as an exciting new phase that will allow us to build on our existing products and services and bring our long-term strategy to life,” Mr Biggs said.
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