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Mainstream completes IRESS super acquisition
Publicly-listed superannuation administration services company, Mainstream Group Holdings has completed its acquisition of the IRESS superannuation business.
Mainstream announced to the Australian Securities Exchange that it had completed the transaction with a final payment of $2.75 million to IRESS.
The ASX announcement said the acquisition was expected to deliver growth opportunities and scale group’s superannuation administration business – Mainstream Superannuation Services which was formerly SuperBPO Pty Ltd.
It said this scale would come via the addition of 14 superannuation fund clients, upgraded technology and access to prospective clients.
The transaction was first signalled to the market in July.
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