Australia's Diverger rises on acquiring licensee support business

Diverger

01/12/2022 24:40

** Shares of wealth management service provider Diverger Ltd
 DVR.AX  rise as much as 2.5% to A$1.020; set for best day since
Nov. 21, if gains hold
    ** Co acquires licensee support business AFSL Compliance Pty
Ltd for initial consideration of A$1.37 mln ($932,100)
    ** Says acquisition provides DVR with established client
base of 160 self-licensed advice firms 
    ** Adds deal is expected to be earnings accretive (pre-
synergies) to co in FY23
    ** As of last close, stock down 9.6% this year
($1 = 1.4697 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))