Complii’s Expanding Regulatory Services
Complii has recently acquired MIntegrity, a specialist regulatory risk consulting firm. It is a digital compliance company based in Sydney. This strategic move is aimed at bolstering Complii’s vision of creating a comprehensive regulatory solution.
Transforming Compliance with Technology
Complii is renowned for its digital platform designed to eliminate paper-based compliance processes. Also, automate critical compliance and operational requirements for Australian Financial Services (AFS) license holders. This acquisition reinforces the company’s commitment to innovation in compliance management.
Broadening Client Base and Revenue Streams
The acquisition encompasses MIntegrity’s intellectual property, key personnel, and a substantial customer base of over 100 clients. That includes prominent entities like CBA’s CommSec and Openmarkets, among other AFS license holders and international customers. This addition is expected to diversify Complii’s portfolio and contribute substantial incremental revenue.
Synergies and Cross-Promotion
Complii envisions a strategic synergy with the integration of MIntegrity’s solutions, such as the digital regulatory web service RegsWeb and the MIWize e-learning portal. RegsWeb is set to complement Complii’s existing compliance modules. Meanwhile MIWize will enhance the company’s CPD online management platform, ThinkCaddie. This synergy creates opportunities for cross-promotion and benefits for Complii’s clients.
A Well-Structured Acquisition
The transaction involved an initial payment of $150,000, followed by two additional payments of $75,000 over 24 months, contingent upon achieving predefined performance objectives. Furthermore, as part of the deal, Complii issued 13 million fully paid ordinary shares and 6 million performance rights, linked to reaching specific milestones.
Advancing Compliance Ecosystem
Executive Chairman of Complii, Craig Mason, expressed confidence in the value MIntegrity brings to the company. This acquisition aligns with Complii’s strategic direction, building upon previous acquisitions like PrimaryMarkets and Registry Direct. It reinforces Complii’s position as a fundamental player in the Australian equity capital markets, providing essential compliance services.