Earlier this month, Rubik announced it was acquiring Visor, giving it the ability to service the boutique clients that Macquarie retained in the COIN purchase in 2012.
With the sale now complete, Rubik has estimated an increase of more than $3.5 million in recurring revenue.
“This acquisition means Rubik will now service the boutique clients that Macquarie retained in the COIN acquisition,” Rubik managing director Wayne Wilson said.
“Going forward, Rubik will be the sole provider of COIN-based solutions in the market.
“The acquisition adds to Rubik’s strong annuity revenue base, and will result in the generation of more than $3.5 million in recurring revenues.”
In February this year, Rubik expanded its software offering after acquiring scaled and online advice provider Provisio.
Mr Wilson told InvestorDaily at the time that the acquisition “opens up new market segments for Rubik, mainly scaled and online advice in the superannuation and IFA markets”.
