Class completes integration of NowInfinity
SMSF software platform Class has completed its integration of corporate compliance and document technology provider NowInfinity into its business following its announced acquisition in January.
The transaction involved the acquisition of all shares in NowInfinity for a maximum enterprise value of $25 million.
As a result of the integration, NowInfinity founders Amreeta Abbott and Vitalii Symon announced their departure from the business to pursue other projects.
“We wish both of them only the best for their future endeavours,” said Class chief executive Andrew Russell.
“They are incredible entrepreneurs and are able to build solutions to make their clients’ lives simpler and more automated, and we are excited to see what they will do in the future.
“Working with the NowInfinity leadership team through this process has been a very rewarding experience.”
Ms Abbott said her objective of her transitional tenure with Class was to impart her vision of NowInfinity and the transfer of knowledge to Class.
“I leave now with both achieved ahead of expectation, and proud of what we have delivered,” Ms Abbott said.
“I would like to take the opportunity to thank the Class team for all their work and support in recent months, and I’m excited to see how the business and its ecosystem continues to evolve.”
Adrian Flores is the deputy editor of SMSF Adviser. Before that, he was the features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.