The Iress acquisition of OneVue has moved a step closer with OneVue shareholders today having voted in favour of the transaction.
Iress has announced to the Australian Securities Exchange that the resolution to approve the acquisition scheme had been approved by the requisite number of shareholders.
It said that the scheme now remained subject to court approval with ahearing set down for Wednesday, 28 October.
“If the Scheme is approved at this hearing, the Scheme will proceed with the implementation date currently scheduled for 6 November 2020 at which time OneVue shareholders will receive the Scheme consideration of 43 cents cash per share,” the Iress announcement said.
Iress chief executive, Andrew Walsh, said: “We are pleased with the outcome of the OneVue Scheme meeting today and look forward to working with OneVue management to complete the transaction over the coming months. We would like to take this opportunity to thank OneVue shareholders, directors and management for their commitment to pursuing this outcome.
“This is a strong opportunity to combine OneVue’s strength and position in administration of managed funds, superannuation and investment, with Iress’ strength in software and data, which provides the combined entity with the opportunity to drive innovation through technology.”
