Nov 28 (Reuters) - MainstreamBPO Ltd (MAI) :
- UK acquisition-MAI.AX
- Galileo is now wholly owned subsidiary of group and will continue to operate under its existing financial services licence
- Has acquired isle of man based fund administrator Galileo Fund Services Limited
- Deal expected to be earnings accretive
- Agreement to increase its presence in UK and broader EU region
- Galileo's revenues are expected to contribute a 5% annualised increase to group forecast revenue in FY17
- Consideration for transaction was funded with proceeds from group's existing acquisition facility
- Galileo is privately held specialist fund administrator with current funds under administration of aud $1.1 billion
