When you refer to the HUB24 guys are you meaning Ian Litster, Suwandi Tan, Jason Entwistle etc. The people who were the key part of teams that created and commercialised Visiplan, Coin, Navigator and Avanteos (just some of the biggest platforms in the country). Ian Litster being the Key developer of Visi and Coin.
From what I could see as good as the broking business was, it was bleeding the business of cash. It lacked scale and a viable market to operate in. Good luck to WIG as I believe it will be a great add on for them. For INQ shareholders though it greatly reduces the cash burn and allows the HUB24 team to focus on what I invested in this stock for, the platform. In my opinion this is where the value lies.
When I read in the papers that Westpac is setting aside north of $400m to upgrade BT Wrap and you have one of the latest platforms built by some of the smartest developers in the country that has no debt, truck loads of cash in the bank and a market cap $11m, I do get excited.
INQ Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
