Sequoia Financial Group Limited (ASX:SEQ) agreed to acquire Customer book and Assets from Tag Insurance Brokers Pty Ltd for approximately AUD 2.5 million on November 17, 2021. The consideration is based upon a forecast EBIT of 5 times FY 22 earnings and will be funded from existing cash reserves over a 12 month earn out period. SEQ will retain the existing TIB staff with Goodman remaining and working closely as a consultant for a minimum of 15 months from the transfer date ensuring a smooth transition of the client portfolio. The transaction will take effect before the end of November 2021.