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.