Six acquisitions and counting

By Laine Lister

Countplus has acquired a quarter share in Brisbane-based accounting firm Specialised Business Solutions (SBS), which is the sixth acquisition for the wholly-owned subsidiary of Count Financial.

Countplus announced to the Australian Securities Exchange today that the 25 per cent interest (including net business assets) was settled at the total cost of $1.24 million, with $0.248 in cash and $0.992 million in Count shares.

It said the company has an option to buy the remaining 75 per cent of the business at its discretion from July 1, 2011, or by agreement before that time.

The deal follows a recent venture between Count and SBS, which combined to develop a new Internet-based system for accounting firms called CountGPS.

Count chairman Barry Lambert said: “Initially, CountGPS will only be available to Count members, but we expect it will become the platform for the Countplus accounting franchise, which will be available to the accounting profession generally.”

5 May 2008

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