Investorfirst Limited (INQ) is pleased to announce that it has entered into a Share Sale Agreement to acquire 100% of the shares of MarketsPlus Holdings Pty Ltd and its fully-owned subsidiary MarketsPlus Australia Pty Ltd (MarketsPlus). The acquisition terms include an all cash consideration of A$2 million, of which 50% is subject to performance criteria over an 18 month period. As a consequence of the acquisition of MarketsPlus, Investorfirst will more rapidly complete its wholesale best-of-breed offer to financial intermediaries which incorporates an investment, superannuation, insurance and equities platform; own 100% of a market leading online trading platform; and inherit a proven online trading platform development and management team.
MarketsPlus is an Australian owned trading business that has developed an advanced trading platform named Evolve which is available online and through iPhone, iPad and Android mobile devices. This platform has been developed using a rich user interface technology creating a unique, industry leading online trading platform. The MarketsPlus development team has a proven track record in developing online trading platforms having previously developed the Andrew West Stockbroking platform. Latest web based user interface technologies, which can be integrated into HUB24 and Investorfirst’s wholesale offerings to improve usability;
Mr. Jason Entwistle, Deputy Non-Executive Chairman of Investorfirst said “The MarketsPlus online trading platform adds valuable new functionality to our product suite and complements our vision of being a leading non-institutional, integrated financial services provider across Investment Platforms and Stockbroking for financial intermediaries and their clients.” Mr. David Spessot, founder of MarketsPlus said “We are excited by the opportunity that combining with Investorfirst offers and believe that through integrating HUB24’s investment platform with MarketPlus’ Evolve Trading platform will create a unique market leading offer for retail and wholesale clients.”