Complii FinTech Solutions acquires regulatory risk consultancy firm MIntegrity

Complii FinTech Solutions (ASX: CF1) has finalised the strategic acquisition of Australian specialist regulatory risk consulting firm MIntegrity.

This acquisition is expected to add up to $1.48 million in incremental annual revenue and provide increased scope for cross-selling its service offerings across a wider client base.

Complii has paid an initial $150,000 consideration for the purchase of all of MIntegrity’s assets including the brand, intellectual property, key staff members and client lists.

This will be followed by two instalments of $75,000 each over a 24-month period, subject to the achievement of revenue targets over the next two years.

Complii will also issue MIntegrity with 13 million fully-paid ordinary shares which will be escrowed for two years from the acquisition.

As part of the deal, MIntegrity co-founders Andrew Tait and Amanda Mark will join Complii as employees for a minimum 24 months and have received a total incentive of six million performance rights.

Neat fit

The MIntegrity acquisition is believed to be a neat fit for Complii’s strategy of managing all corporate activity relating to equity markets following a business’ inception including risk management, governance and control processes.

Complii executive chairman said the deal would complement previous purchases of independent trading platform PrimaryMarkets in November 2021 and capital management software firm Registry Direct in October.

“This acquisition helps build our compliance ecosystem further, adding services to our unique technology platform and consolidating our position as the ‘backbone’ of Australian equity capital markets,” he said.

“MIntegrity’s expertise complements the technology and services already we provide and we expect their client list will open the door to new business opportunities for Complii and our other business units.”

Adviser management platform

Complii is Australia’s first fully-integrated corporate and adviser management platform which enables new levels of operating efficiencies and competitive advantage for Australian Financial Services License (AFSL) holders and their end users.

Established in 2007, the group has built Australia’s only integrated, modular software-as-a-service (SaaS) platform for managing compliance, control and capital markets engagement.

Registered users benefit from compliance modules for capital raising and operational needs, as well as a global trading platform and registry services for securities of private and public companies and funds.

Financial markets experience

Established in 2013, MIntegrity has over 100 clients worldwide including banks, markets exchanges and operators, Australian Financial Services Licence holders and securities dealers and private wealth firms.

Its solutions include digital regulatory web service RegsWeb which combines MIntegrity’s regulatory domain expertise with access to its digital regulatory library; and the MIWize e-learning portal which is designed to help financial services companies stay in line with regulatory requirements delivered through Complii’s continuous professional development management platform ThinkCaddie.

Mr Tait said Complii’s acquisition would strengthen the services offered by MIntegrity to financial services firms as it approaches its 10th year of operation.