Prime Financial Group (ASX:PFG) agreed to acquire Lincoln Indicators, an Australian investment research, portfolio, platform, and funds management business, along with related intellectual property, according to a Tuesday filing with the Australian bourse.
The acquisition involves a total consideration of AU$15.8 million for on-target earnings before interest, taxes, depreciation, and amortization performance, potentially AU$17.9 million if earnings targets are exceeded, payable in cash and shares over a three-year period, the filing said.
Additional consideration will also be payable for the associated intellectual property held by a related party to Lincoln Indicators, per the filing.
Prime Financial Group shares rose 2% in midday trade on Tuesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.