OneVue acquiring KPMG Australia’s leading super member administration service

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    Key highlights
     Catapults OneVue to #4 in the super member administration market.
     Purchasing a high quality super member administration business with specialist services.
     Annualised revenue run rate expected of $8 million+ per annum with high recurring revenues.
     Grows OneVue’s Superannuation funds under administration (FUA) to circa $4.0 billion.
     Unconditional cash purchase consideration of $6.5 million, with further contingent payments of $5.5 million in
    FY 2019 and $5.5 million in FY 2020.
     Transaction funded by existing cash balances with no equity funding required.
     Acquired on a debt free basis.
     Earnings per share (EPS) accretive immediately (ex costs).
    Hot on the heels of Investment Trends 2017 Benchmarking report which saw OneVue jump into third position in
    Overall Full Functioning Platforms in Australia OneVue today announced it has entered into an agreement with
    KPMG Australia to acquire its super member administration business. The acquisition of KPMG’s leading
    Superannuation Member Administration business will catapult OneVue’s funds under administration to circa $4.0
    billion, add 40,000 members and 16 superannuation funds making it the fourth largest superannuation member
    administrator in the market.
    Strategic rationale
    The acquisition of KPMG Superannuation Services is another step in OneVue’s plan to leverage its market-leading
    managed fund administration capability and technology to deliver more automated and scalable solutions to the
    superannuation member business.
    OneVue Group CEO Connie Mckeage said: “Our first priority is to ensure the ongoing service delivery is maintained
    and enhanced for both OneVue and KPMG’s existing members. This acquisition increases OneVue’s current
    superannuation member capabilities by adding KPMG’s deep technical expertise in managing complex
    superannuation funds. The combination of OneVue’s superannuation business and KPMG’s high quality business
    and experience across defined benefits funds in particular should also open up new opportunities for us in the
    Normal conditions precedent for a transaction of this nature apply with completion expected in April 2018.

    courtesy of Bell Direct


    i hold OVH ( courtesy of a scrip + cash deal when they took over another company )

    looks to be forcing the acquistion angle , i will be looking for a graceful exit ( hopefully before one of thee acquisitions chokes it )

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