Ann: HUB24 to acquire Agility Applications, page-2

Criterion from the Oz

" HUB24 (HUB) $5.87
This acquisition is not quite such a company maker, but a useful one in terms of expanding a customer base in a logical manner.
The Thorney Investments-backed investment and superannuation platform operator is acquiring the private Agility Applications, which provides boring but important back-office technology services to 40 per cent of the broking fraternity.
HUB24 itself was subject to a spurned takeover approach from IOOF a year ago.
The Agility platform boasts about 2300 users (representing $200 billion of client assets) while HUB24 has about 70 licensees in the wealth management and financial planning sector.
HUB24 is paying Agility’s founders, Craig Apps and Paul Biggs, $2m in cash and $4m in HUB24 shares, with Agility continuing to operate separately.
HUB24 chief Andrew Alcock says some pundits expected his company to buy another wealth management platform, rather than a wealth management provider. “We have bought something to enhance the company, rather than just provide scale.’’
Our long-term buy call remains intact. In investing terms, boring is beautiful."

http://www.theaustralian.com.au/bus...y/news-story/1dd48143fdcacd74acb5965dc5d7d66d