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Computershare Limited (ASX:CPU) has announced it’s agreed terms for the acquisition of Homeloan Management Limited.
HML is a third party mortgage administration business operating in the UK and previously owned by Skipton Building Society.
Homeloan Management had annual revenue of approximately $86 million dollars in 2013 however Computershare is not expecting any material impact on earnings till the 2016 financial year. Any synergies should be fulfilled within about three years of ownership.
Computershare recently announced a fall in expected 2014 profit of up to $43 million after selling some assets at a loss.
Computershare reported a net profit of $158 million for the half year ended 31st December 2013.
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