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IRESS Limited ( (AU:IRE) ) has provided an announcement.
Iress Limited has announced a binding agreement to sell its Superannuation business to Apex Group Ltd, a global financial services provider, as part of a strategic transformation program. This divestment will allow Iress to focus on its core strengths in software delivery and improve its operational efficiency while continuing to provide software to superannuation funds. The transaction is expected to be completed in the second quarter of 2025, subject to regulatory approvals, and is structured to provide Iress with cash consideration and potential additional payments, ensuring a strengthened position for the Superannuation business under Apex Group’s ownership.
More about IRESS Limited
Iress Limited is a technology company that provides software solutions to the financial services industry, covering areas such as trading and market data, financial advice, investment management, superannuation, life and pensions, and data intelligence. The company operates in the Asia-Pacific, North America, Africa, the UK, and Europe.
YTD Price Performance: -2.70%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €1.01B
Learn more about IRE stock on TipRanks’ Stock Analysis page.
