SYDNEY: Count Limited (ASX:CUP) said on Tuesday it will acquire Oracle Group in a deal valued at about A$72.2 million ($47.5 million), expanding its financial advice and accounting footprint across Australia’s east coast.
The acquisition covers Oracle Advisory Group, Oracle Accounting (Australia), and Oracle Investment Management, which together generated A$26.4 million in revenue and A$8.6 million EBITA in fiscal 2025. Oracle is forecast to deliver about A$10 million EBITA in fiscal 2026.
Count said the deal will boost its wealth segment contribution to nearly 59% of pro forma EBITA in the first half of FY26, up from about 46%.
The company expects the transaction to be low double-digit earnings per share accretive before synergies, with about A$1 million in annual cost savings targeted within two years.
The acquisition will be funded through a fully underwritten institutional placement of A$35.9 million and a non-underwritten share purchase plan of up to A$5 million. Certain directors have also committed to invest about A$0.3 million, subject to shareholder approval.
“The acquisition of Oracle Group is highly aligned with Count’s strategy … and will significantly enhance Count’s east coast presence,” Chief Executive Hugh Humphrey said in a statement.
Oracle Group, founded in 1986 and headquartered in Newcastle, employs 22 financial advisers across 14 offices and manages about A$0.8 billion in funds under management and A$1.8 billion in funds under advice.
Settlement of new shares under the placement is expected on April 8, with trading to commence on April 9. The share purchase plan will open on April 13 and close on May 1.
E&P Capital and Canaccord Genuity are acting as joint lead managers to the placement, while Baker McKenzie is advising on legal matters.