Investorfirst acquires MarketsPlus

Investorfirst acquires MarketsPlus

Financial services provider Investorfirst (ASX:INQ) will pay up to $2 million to acquire the developer of an online trading platform.

Investorfirst has entered a share sale agreement to buy MarketsPlus Holdings and subsidiary MarketsPlus Australia.

MarketsPlus built the m+ Evolve and m+ Evolve Mobile platforms, which are currently used to trade CFDs across shares, indices, foreign currencies and commodities.

The platform is available on Apple iOS and Android devices, as well as online. MarketsPlus is currently developing an online share trading component.

Investorfirst said it would incorporate the product into its HUB24 wholesale investment and superannuation platform for financial intermediaries.

Half of the purchase price is subject to the meeting of certain targets within 18 months of completion.

INQ shares grew 1.52% in Thursday's trading to $0.067.

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Tags Mergers and acquisitionsmarketsInvestorfirstASX:INQMarketsPlus

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