Iress incentivised to drive OneVue post-sale FUA
![finger plus](https://financialnewswire.com.au/wp-content/uploads/Shutterstock_2253997763.jpg)
Platform provider Praemium Limited yesterday completed its acquisition of the OneVue Platform Business from Iress for $1 million.
In announcing completion of the transaction to the Australian Securities Exchange (ASX) Praemium pointed out that the OneVue business currently had funds under administration of (FUA) of $4.1 billion.
It also reaffirmed that while it had paid just $1 million to Iress for the business an earn-out of up to an additional $20 million is possible based on growth in FUA measured over an 18-mnth period.
“The earn-out consideration is calculated between $3 billion and $6 billion in FUA on a straight-line basis,” the ASX announcement said.
It said that should the OneVue Platform’s current FUA of $4.1 billion be maintained, additional considerable payable would be $7.2 million.
I have clients who have been told to produce evidence they are with cbus or else they can't work on…
Unionist were appointed to the Reserve Bank Board as some sort of pay off. You missed where the Wayne Swan…
It concerns me that only months ago the Government was considering giving Union based Industry Funds the power to advise…
Can you imagine the corruption that would occur if the Government goes ahead with its plan to allow Industry Super…
Let's pretend that I am a super fund trustee and I want to build an office building on behalf of…