SEQ - Sequoia Financial Group

[Dona Ferentes]

Sequoia Financial Group Limited (ASX: SEQ) announces the successful acquisition of three inter-related businesses,

• Informed Investor Pty Ltd,
• Sharecafe Pty Ltd and
• Corporate Connect Research Pty Ltd.

The acquisition is expected to be completed by the close of business on 1 April 2022. The total consideration will be approximately $5.1m with an initial payment of $3m made up of $1.1m cash and 2,720,723 Sequoia shares at $0.70 per share, plus a deferred payment of a further 3,128,831 shares to be issued after 28 February 2023 subject to achievement of performance hurdles.

This acquisition increases the scale of our Direct Division and specifically enhances aspects of our media, research, adviser support and technology platforms, through an increased delivery of premium information and finance news content to the expanding B2C and B2B Sequoia client base.

 

[basilio]

Sequoia Financial Group Limited (ASX: SEQ) announces the successful acquisition of three inter-related businesses,

The acquisition is expected to be completed by the close of business on 1 April 2022. The total consideration will be approximately $5.1m with an initial payment of $3m made up of $1.1m cash and 2,720,723 Sequoia shares at $0.70 per share, plus a deferred payment of a further 3,128,831 shares to be issued after 28 February 2023 subject to achievement of performance hurdles.

This acquisition increases the scale of our Direct Division and specifically enhances aspects of our media, research, adviser support and technology platforms, through an increased delivery of premium information and finance news content to the expanding B2C and B2B Sequoia client base.

Seems as if that acquisition has turned very sour. Sequoia has sacked Tim McGowen who owned and came with the three businesses.
Now Sequoia is suing Tim for $3.5m

Sequoia seeks $3.5m damages following Informed Investor acquisition

Sequoia is seeking $3.5 million in damages from Tim McGowen, following the acquisition of Informed Investor in April 2022.

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