WT Financial Group Limited (ASX:WTL) executed a share sale agreement to acquire Millennium3 Financial Services Pty Ltd from Insignia Financial Ltd. (ASX:IFL) for AUD 2 million on November 21, 2023. WTL will acquire acquire M3 on a debt free, cash free basis, with the final purchase price adjusted at completion to reflect any retained working capital. WTL intends to fund the Acquisition using cash at hand. M3 contributed approximately AUD 6.3 million of net revenue and made a pre-tax loss of AUD 2.3 million in FY23. The sale is expected to complete by mid-December 2023. The acquisition is highly synergistic and accretive to earnings.

WT Financial Group Limited (ASX:WTL) completed the acquisition of Millennium3 Financial Services Pty Ltd from Insignia Financial Ltd. (ASX:IFL) on December 8, 2023.