Smartgroup Corporation Limited (ASX:SIQ)
will pay $1.7 million upfront for selected assets of Trinity Management Group.
The assets have been handpicked and comprise of tailored equity plans for corporate clients expanding the Smartgroup business into equity plan administration.
The assets will trade under a new subsidiary of Smartgroup called SmartEquity Pty Ltd.
The deal will be funded from existing cash and is expected to finalise by the end of this month.
Smartgroup made a net profit of $9.14 million for the 2015 financial year.