HUB24 Limited (ASX:HUB) executed a binding agreement to acquire Agility Applications Pty Ltd for AUD 15.2 million on November 28, 2016. As per terms, consideration comprises of cash of AUD 2 million and issuance of approximately 0.74 million ordinary shares of HUB24 Limited. Further, an additional cash of AUD 5.5 million and AUD 3.5 million in shares will be paid over the next three years if certain conditions and performance hurdles are met. The cash consideration for the acquisition is to be paid from cash reserves by HUB24 Limited. Post completion, Agility Applications Pty Ltd will operate as a wholly-owned subsidiary of HUB24 Limited, retaining its own corporate identity and head office in Brisbane. For the year fiscal year 2016, Agility Applications Pty Ltd reported revenues of AUD 8 million and net profit after tax of AUD 0.98 million. The founders, Craig Apps and Paul Biggs will remain employed in Agility Applications Pty Ltd. The acquisition is subject to customary conditions precedent with completion. The deal is expected to close in early January 2017. The transaction is expected to be earnings per share accretive for HUB24 Limited. Rebecca Piercy of Honner acted as PR advisor for HUB24 Limited. HUB24 Limited (ASX:HUB) completed acquisition of Agility Applications Pty Ltd on January 3, 2017.