Platform provider Hub24 has completed the acquisition of Agility, a start-up specialising in application, data exchange and technology services for the finance industry.
The acquisition was first announced to the market in November 2016, at which time Hub24 said it had entered a binding agreement to acquire the business for $6 million.
“Hub24 has developed a non-custody reporting solution that is fully integrated with its investment and superannuation platform,” the company said.
“Agility’s services will complement Hub24’s solution and accelerate enhancements to support stockbrokers, as they increasingly transition into wealth managers.”
The company said the acquisition would provide financial advisers using the Hub24 platform with access to “additional client management and reporting” functionalities.
“We are very pleased with the level of engagement and support we are receiving from the Agility team regarding the acquisition,” said Hub24 managing director Andrew Alcock.
“The addition of Agility to Hub24 will support further growth of our platform and assist us with the ongoing development of our core business of providing superior platform offers to financial planning groups, accountants and stockbrokers and their clients”.