AWI acquires Intelligent Investor Publishing
Australasian Wealth Investments (AWI) has made another acquisition - this time the 100 per cent acquisition of Intelligent Investor Holdings Pty Ltd, the holding company for subscription-based stock research business, Intelligent Investor Publishing.
AWI announced the acquisition to the Australian Securities Exchange (ASX) today saying the transaction was valued at $4.6 million in cash on completion and a further $2.3 million subject to the company’s performance for the 2014 calendar year.
It noted that Intelligent Investor has around 5400 customers and an email list of more than 260,000.
The AWI acquisition follows on from the company’s recent announcement of the launch of a Ventures Accelerator Program and its acquisition of a major stake in research house van Eyk.
AWI chief executive Ben Heap described Intelligent Investor Publishing as having unique and compelling content that was highly complementary to the AWI business model and existing investments.
“Together with its existing investments in InvestSmart and YourShare, AWI now has over 500,000 prospective online customers, circa 45,700 accounts and more than $1.7 billion in funds under advice,” he said.
Heap noted, however, that the transaction did not include Intelligent Investor Funds Management which would continue under the leadership of Steve Johnson. However he said the two businesses would continue to work closely together.
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