Another day, another acquisition for Iress. With the ink still drying on the INET BFA acquisition announcement, Iress is at it again with the $85m acquisition of Financial Synergy. The purchase will be funded by an institutional placement and share purchase plan at $11.35.
If you were hoping for a game-changing acquisition, you won’t find it here. Financial Synergy, like INET BFA before it, barely moves the needle and doesn’t change the price guide we set out last week in Iress: Going OK in the UK.