Fast growing listed financial services technology company HUB24 is poised to acquire Agility Applications, industry sources told Street Talk on Monday.
Agility is a specialist provider of application, data exchange and technology products to the financial services industry. It covers about 40 per cent of Australia's stockbroking market.
Sources said the deal was in line with HUB24's strategy of mopping up smaller, accretive targets and that the combined entity would provide advisers and stockbrokers with a broader package of services.
It is understood Agility will operate as a wholly-owned subsidiary of HUB24, retaining its own corporate identity and head office in Brisbane
Agility was dealt a blow last year when stockbroking firm BBY collapsed, owing the group more than $700,000.
Elsewhere, The Stockbrokers Association of Australia has communicated a name change to its members.
Street Talk understands the industry body will be rebadged as the Stockbrokers And Financial Advisers Association to reflect a growing shift towards the provision of broader advice by the sector.
The name change also helps SAFA to become a code monitoring body under the federal government's new professional standards regime, following the introduction of legislation into parliament last week.
