The company has entered into an agreement to buy all Investment Science shares for 100 per cent Blue Sky scrip, with the offer including deferred consideration components calculated on growth in assets under management.
Blue Sky managing director Mark Sowerby told InvestorDaily the acquisition will enable Blue Sky to build additional scale in its hedge fund.
Mr Sowerby said Blue Sky was mainly interested in Investment Science due to the talent of its team and the fact most of its assets under management are from the financial planning private investor space.
He said this has been a target area for Blue Sky as the company needs to ensure it “gives people access to these sorts of opportunities in this space”.
Mr Sowerby said he believes the two businesses are a good fit culturally and that Investment Science will be integrated entirely into Blue Sky.
