Complii's share price could rise on acquisition spree
ASX-listed fintech company Complii could see its share price lift on a strategic acquisitions spree to round out its services.
The share price of ASX-listed Complii FinTech Solutions could be on track to bounce back following its acquisition of a consultancy firm specialising in regulatory risk.
Complii hopes the acquisition will help further expand its capabilities, helping to transform it into a comprehensive provider of automated compliance services for equity market clients.
The move comes following a rough period for the small-cap fintech's share price, including a sizeable equity sale by a senior figure in the company.
Complii acquires specialist risk advisor
Complii has just completed the strategic acquisition of MIntegrity, an Australian consulting firm that specialises in regulatory risk.
The fintech company has already stumped up an initial consideration of $150,00 to acquire all of MIntegrity's assets. This includes key members of staff and client lists, as well as the company's intellectual property.
Complii now has access to MIntegrity's online digital solutions, including RebsWeb and its MIWize e-learning portal.
MIntegrity co-founders Andrew Tait and Amanda Mark will become Complii executives as part of the deal for a minimum period of 24 months.
Complii will follow up the initial payment with two more instalments of $75,000, contingent upon the completion of revenue targets over the next two years.
The fintech company will also provide MIntegrity with 13 million fully-paid ordinary shares, placed under escrow for two years following the acquisition.
MIntegrity was founded in 2013, and has more than 100 global clients, including Openmarkets and CBA's CommSec.
Its RegWeb online platform provides access to a digital regulatory library, while its MIWize e-learning portal is designed to help financial services companies comply with regulatory requirements.
Acquisition rounds off Complii's capabilities
Complii bills itself as a provider of web-based compliance solutions to holders of Australian Financial Services Licenses (AFSL) and their end users.
The chief advantage offered by its digital platform is its ability to remove the need for paper-based compliance, by using customisable software that automates, records and reports on the regulatory obligations of licensees. This automation can achieve significant savings in terms of staff costs and handling times.
Key clients of Complii include DJ Carmichael, Shaw and Partners, Canaccord Genuity, EverBlu Capital and Blue Ocean Equities.
The acquisition of MIntegrity is part of Complii's strategy to expand its suite of capabilities, to provide clients with one-stop management of all corporate activity relating to equity markets.
'This acquisition helps build our compliance ecosystem further, adding services to our unique technology platform and consolidating our position as the "backbone" of Australian equity capital markets,' said Complii executive chairman Craig Mason
'MIntegrity's expertise complements the technology and services already we provide and we expect their client list will open the door to new business opportunities for Complii and our other business units.'
As part of its strategic expansion, Complii had previously acquired trading platform PrimaryMarkets in November 2021 and capital management software platform Registry Direct in October 2022.
Executive director sells off equity stake
The acquisition of MIntegrity arrives after a rough year for Complii's share price, as well as the sale of a sizeable equity stake by a key insider.
Ian Roe, Executive Director, reportedly sold around $200,000 worth of stock at a price of $0.06 per share in the past year, when the company was trading at around $0.03 per share.
Complii's share price is currently down around 22% year-to-date, as well as more than 50% over the past year.
The MIntegrity acquisition helped to drive a 9% rise in Complii's share price on 4 September, however.
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