GoLogiq, a US-based consumer data analytics provider, has inked a mutual non-binding letter of intent to purchase a 51% stake in Australian institutional investment advisory firm CPG Research & Advisory for $15m.
With headquarters in Sydney, CPG currently has offices in Perth and caters to clients across Australia, Bahrain, and New Zealand.
The company offers tailormade products to different institutional investors such as superannuation funds, insurers, local agencies, government authorities, sovereign funds, and family offices.
As part of the new all-stock deal, GoLogiq will issue common shares valued at $15m to the shareholders of CPG.
Once the deal is closed, CPG’s improved research and advice capabilities will further help GoLogiq to boost its fintech platform.
The acquisition is expected to be completed by the second quarter of this year.
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It follows an announcement regarding the purchase of Nest Egg Investments by GoLogiq in a deal valued at $30m.
GoLoqiq interim CEO Brent Suen said: “This proposed merger represents our first entrance into research advisory and asset consulting for large institutional investors.
“CPG’s growing international presence and advanced research technology complements and rounds out our global offerings of comprehensive Fintech products and services for individuals and SMBs.
“We also see tremendous opportunities to help CPG expand its client base into new markets.”