HUB24 Limited (ASX:HUB) entered into an agreement to acquire myprosperity Pty Ltd for AUD 51.2 million on May 3, 2023. HUB24 Limited will issue 1.4 million shares as upfront consideration and further AUD 11.5 million in HUB24 shares will be paid subject to certain conditions and performance hurdles being met progressively over the next 3 years (fully achieved on successful integration of myprosperity functionality into the HUB24 platform, Class software, NowInfinity and HUBconnect offers and revenue synergy targets of AUD 7.2 million in FY24 increasing to AUD 21.2 million in FY26). myprosperity will continue to operate as a stand-alone entity as a portal with software subscription revenue, and while retaining its own corporate identity, brand, and Melbourne-based team. Peter McCarthy Chief Executive Officer of myprosperity will be joining the team. Following the transaction, myprosperity will operate as a wholly owned subsidiary of HUB24. The transaction is expected to complete prior to June 30, 2023.

HUB24 Limited (ASX:HUB) completed the acquisition of myprosperity Pty Ltd on May 30, 2023. As reported, HUB24 issued 1,423,876 fully paid ordinary shares as consideration for the acquisition. The acquisition was subject to customary conditions precedent that have now been satisfied.