subscribe to our newsletter
Countplus invests $2m in Class Super parent

Countplus invests $2m in Class Super parent

Reporter
16 July 2013

Countplus has approved an investment of $2.15 million in Super-IP, the owner of SMSF software administration system Class Super.

While this investment will not be earnings per share (EPS) accretive to Countplus in the immediate term, the company said it represents a strategic investment which complements its accounting services business.

“I’ve followed the progress of Class closely over the last few years and have been pleased to see their success, given the important role they have played in improving efficiency in SMSF administration for accountants,” said Countplus chief executive officer Michael Spurr.

Countplus’ investment will accelerate Class’ new Super and non-Super product development, with Countplus funding this investment from borrowings.

“While we already have a long and rewarding relationship with [Countplus] as a user of our software, their addition as a shareholder allows Super- IP to more closely tap into their distribution and accountant partnerships capabilities,” said Class chief executive officer Rajarshi Ray.

In addition, Class is now cash flow positive, and has stated it intends to list on the ASX close to 2016, according to the announcement.

Countplus invests $2m in Class Super parent
smsfadviser logo
join the discussion

What do you plan to do in response to the new adviser education standards?

SUBSCRIBE TO THE
SMSF ADVISER BULLETIN

Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super