Count (ASX:CUP) struck a deal to acquire financial planning firm Oracle Advisory Group and its businesses, including Oracle Accounting (Australia) and Oracle Investment Management, for an enterprise value of about AU$72.2 million, according to a Tuesday filing with the Australian bourse.
The consideration consists of AU$53.9 million upfront, including AU$49.8 million in cash and AU$4.1 million in Count shares, and a deferred cash payout of up to AU$18.3 million payable in the first and second years after closing.
A potential earn-out cash payment of up to AU$10 million is also payable in the first and second years after completion, subject to the achievement of certain performance milestones.
The deal is expected to be low double-digit EPS accretive pre-synergies on a fiscal-year 2026 pro-forma basis, Count said. The company is targeting run-rate pre-tax cost synergies of about AU$1 million within 24 months of closing, excluding one-off transaction and integration costs.
Count will partially finance the deal through a fully underwritten institutional placement to generate about AU$35.9 million, as well as a non-underwritten share purchase plan to certain shareholders with the aim of raising up to AU$5 million.
"The acquisition will significantly enhance Count's east coast presence and, importantly, materially grow our exposure to highly attractive wealth segment revenues," said Count Chief Executive Hugh Humphrey.