Sunday 24th September 2023
Complii seals MIntegrity takeover to broaden services offering
The compliance software provider has acquired consultancy provider MIntegrity in a move Complii chairman Craig Mason hopes will "open the door" to further business opportunities.
Listed diversified broking technology provider Complii Fintech Solutions has continued its acquisitive streak, recently adding financial services compliance and risk consulting firm MIntegrity to its stable.
On September 4, Complii announced to the ASX that the company has entered into a binding business acquisition agreement to acquire MIntegrity in exchange for 13 million Complii shares, as well as $150,000 upfront followed by two $75,000 payments over 24 months, subject to the the achievement of agreed performance goals.
Complii has a suite of technology solutions tailored to the broking and financial advice industries, digitising compliance, account management and capital raisings. These offerings include a trading platform for unlisted companies called Primary Markets as well as share and unit registry software provider Registry Direct.
MIntegrity’s solutions include RegsWeb, described as a “digital regulatory web service”, which Complii says will compliment its internal compliance modules.
The group hopes the acquisition bolters the diversity of its offering with a consultancy service for advice and accounting groups that are either existing or potential clients.
“This acquisition cements our previous acquisitions of PrimaryMarkets and Registry Direct and will create a stronger compliance ecosystem, adding services to our unique technology platform and consolidating our positioning as the ‘backbone’ of Australian equity capital markets,” commented Complii executive chairman Craig Mason, adding that MIntegrity’s regulatory expertise will prove a boon to Complii’s existing user base.
“Conversely, their client list will open the door to incremental business opportunities for Complii and other Group business units,” he added.
According to MIntegrity co-founder and managing director Andrew Tait (pictured), the union is an appropriate way for the business to celebrate its 10-year anniversary. “We look forward to joining the Complii group and believe this will further strengthen the services offering to financial services firms in Australia and the wider region,” he said.
