InPayTech merges with Comply Path, names board
Integrated Payment Technologies (InPayTech) has announced a merger with regtech Comply Path, a bond platform established by PwC Australia.
The proposed merger, which was announced to the ASX, will go to shareholders for approval in January 2021. Comply Path will be a wholly-owned subsidiary of InPayTech with existing shareholders holding 50% of the merged group.
Key management personnel will come from existing management and staff at both InPayTech and Comply Path. Comply Path's current CEO, Joe Brasacchio, will become CTO of the merged organisation.
Don Sharp, executive chair for InPayTech, is set to take on the role of executive chair. He'll be joined on the board by Paul Collins, Trent Lund, and Randolf Clinton. The intention is to appoint an independent chair within six months of shareholder approval.
Sharp has more than 40 years of experience in Australian financial services, including as the co-founder of Bridges Financial Services and chair executive chair for Managed Accounts Holdings and director for Registry Direct Limited. He's also held directorships with Treasury Group and Countplus and was the chair of Investors Mutual, GVI, and Premium Investors Limited.