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Madison Update – 1 June (Morning)
Commercial in confidence
Morning all, hope you enjoyed the weekend. A quick update on sale progress. Contract negotiations are almost at an end. You may have seen the OneVue ASX announcement this morning (CLICK HERE), which indicates execution of the sale agreement being imminent. As soon as I’m informed, I’ll provide an update. Once the settlement occurs, the transition to the new owner will trigger. A comprehensive communication and project plan is prepared, including the support we will provide for the change of ownership.
The other significant news today is the OneVue IRESS Announcement (CLICK HERE). Some key points:
- The acquisition creates significant, accelerated opportunities for clients beyond what OneVue could deliver as a stand-alone business, with Iress being committed to ongoing investment in the OneVue business.
- This is a strategic acquisition by Iress, so the focus is on retaining good people and driving growth. Until the shareholders vote on the transaction the business will very much continue as ‘business as usual’. The current focus of the team is to remain on delivering the best financial year end across all 3 operating businesses despite COVID19.
- In terms of the sale itself, this remains subject to shareholder and regulatory approval, completion is expected by end of September, after which a transition period of 4-6 months will ensue.
With respect to WealthPortal, there is no change to current operations. However, I see this acquisition as a good opportunity for our community longer term.
CLICK HERE to register once for the Madison Update recurring webinar each Wednesday at 11am.
We hope you can join us on Friday from 3.30pm for our Virtual Drinks. CLICK HERE to register.
Contact numbers
Head Office 1300 789 575
Annick 0409 706 963
Kerry 0402 145 480
Jaime 0439 079 786
Sincerely,
Annick Donat
Go Back
[wpseo_breadcrumb]
Madison Update – 1 June (Morning)
Commercial in confidence
Morning all, hope you enjoyed the weekend. A quick update on sale progress. Contract negotiations are almost at an end. You may have seen the OneVue ASX announcement this morning (CLICK HERE), which indicates execution of the sale agreement being imminent. As soon as I’m informed, I’ll provide an update. Once the settlement occurs, the transition to the new owner will trigger. A comprehensive communication and project plan is prepared, including the support we will provide for the change of ownership.
The other significant news today is the OneVue IRESS Announcement (CLICK HERE). Some key points:
- The acquisition creates significant, accelerated opportunities for clients beyond what OneVue could deliver as a stand-alone business, with Iress being committed to ongoing investment in the OneVue business.
- This is a strategic acquisition by Iress, so the focus is on retaining good people and driving growth. Until the shareholders vote on the transaction the business will very much continue as ‘business as usual’. The current focus of the team is to remain on delivering the best financial year end across all 3 operating businesses despite COVID19.
- In terms of the sale itself, this remains subject to shareholder and regulatory approval, completion is expected by end of September, after which a transition period of 4-6 months will ensue.
With respect to WealthPortal, there is no change to current operations. However, I see this acquisition as a good opportunity for our community longer term.
CLICK HERE to register once for the Madison Update recurring webinar each Wednesday at 11am.
We hope you can join us on Friday from 3.30pm for our Virtual Drinks. CLICK HERE to register.
Contact numbers
Head Office 1300 789 575
Annick 0409 706 963
Kerry 0402 145 480
Jaime 0439 079 786
Sincerely,
Annick Donat
Go Back