Founded in 2013 and serving over 100 clients, MIntegrity specializes in compliance and risk management within the Australian financial services sector, making it a rapidly growing consultancy. This acquisition is expected to diversify the Complii Group and contribute significantly to its revenue. It will also create opportunities to offer the Group's services to a broader client base, as the company sees it.
The transaction's consideration includes the issuance of 13,000,000 fully paid ordinary shares in ASX: CF1 and an initial payment of AUD 150,000, followed by two additional payments of AUD 75,000 each over 24 months, subject to meeting agreed-upon performance milestones.
Craig Mason, Executive Chairman of Complii Fintech Solutions, expressed his enthusiasm about integrating the MIntegrity team into their organization and acknowledged the value they would bring.
Mason mentioned that this acquisition builds upon their previous acquisitions and enhances their compliance capabilities, strengthening their position in Australian equity capital markets. He emphasized their intention to leverage these capabilities within their existing client base and explore additional business opportunities.
MIntegrity's offerings include RegsWeb, a digital regulatory web service, and MIWize, an e-learning portal designed to assist financial services professionals in meeting FASEA requirements. These solutions add to Complii's compliance modules and expand the services provided by the Group.
Andrew Tait and Amanda Mark, Co-Founders and Managing Directors of MIntegrity, expressed their excitement about the opportunity, believing it will enhance services available to financial services firms in Australia and the broader region as MIntegrity approaches its 10th year of operation.
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