Class acquires NowInfinity, appoints founder as chief growth officer

SMSF tech provider Class has acquired NowInfinity, a documentation and compliance tech provider, for $25 million.

NowInfinity founder and CEO, Amreeta Abbott, comes with the deal. She will serve as chief growth officer for the tech and software space.

Abbott says she's excited to leverage Class' platforms to address the barriers that led her to founding NowInfinity in the first place. "Since 2012, NowInfinity has been deeply passionate and focused on solving pain points for accountants, financial planners, bookkeepers and lawyers through our innovative platform, which has brought to the market a number of industry firsts," Abbott said.

"We are excited about the opportunity this transaction creates that sees two market leaders leveraging each other's strengths, enabling NowInfinity's ability to continue to innovate and grow with our members."

Class CEO Andrew Russell said the acquisition is a step toward continued growth. "Importantly, it will enable Class to execute on our ambition of providing a broader set of products and services to our customers, which will be further enhanced through stronger integration of both platforms over the medium term," Russell said.

"We are excited by this acquisition and welcome the NowInfinity team to Class."