Equity Story (ASX: EQS), which provides stock market trading advice, research and investor education services, has acquired ‘A Rich Life’ from equities commentator Claude Walker.
The acquisition brings around 400 new paying subscribers, which generate annual revenues of around $154,000.
Equity Story currently has approximately 1,200 subscribers and generated revenues of around $1.2m in FY21. The acquisition will increase both metrics by approximately 25% and 13% respectively.
A Rich Life has a further 2,900 free members, which provides a potential base for future paying subscribers.
Claude Walker will join Equity Story as the Editor in Chief of A Rich Life and participate in the company’s regular market commentary, podcasts and other media.
Walker is also a regular contributor to stock market media such as Ausbiz, Rask Media and several ASX-related podcasts.
Walker said this opportunity will allow him to spend more time on reporting the "e best investment opportunities and will also allow me to offer investment recommendations."
"This acquisition marks our first step towards our wider mission to provide a deep variety of investment content, perspective and analysis as part of Equity Story’s financial investor media offering," commented CEO Trent McGraw.
The acquisition is expected to bring substantial benefits including a new lead commentator, exposure to a wider and younger audience, diversified content mix and cross-marketing opportunities.
Equity Story will pay $500,000 in cash in the following instalments:
$250,000 on settlement or by 1 July 2022
$150,000 on 1 July 2023
$150,000 on 1 July 2024
Get the latest news and insights direct to your inbox