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Highlights:
- Diversified financial firm, Equity Story, has acquired online investing research company A Rich Life (ARL).
- A Rich Life is owned by investment writer and equities commentator Claude Walker.
- ARL brings to Equity Story, around 400 new paying subscribers, a new website and differentiated content.
Financial firm Equity Story Group Ltd (ASX:EQS) announced today (29 June 2022), that it has acquired finance website, A Rich Life, which was running under the auspices of famous investment writer Claude Walker. According to Equity Story, the transaction is likely to get settled on 1 July, Friday.
Details of the deal:
- Walker will be joining Equity Story as full-time editor to help the company grow its financial media business.
- Equity Story’s podcasts and content offerings are likely to get advanced after Walker’s joining.
- Around 400 paying subscribers from A Rich Life are currently generating annual revenues of approximately AU$154,000.
- With the deal, Equity gets 2,900 free members and a base for potential future paying subscribers, a team of contracted journalists and contributors.
Know more about ‘A Rich Life’
A Rich Life is an online periodical that deals in ASX investing. It works with an objective to keep the readers informed about all the challenging investment content and penetrative analysis on finance related subjects.
Who is Claude Walker?
Claude Walker is a renowned research analyst, writer and advisor who started his own digital media platform A Rich Life in 2019. Walker still contributes to other financial and business organisations.
On the acquisition, Walker commented:
“I am delighted to announce the sale of A Rich Life to Equity Story Group. As part of this transaction, I will be continuing in my role as Managing Editor of A Rich Life, which I am incentivised to grow. I look forward to assisting with the long-term success of Equity Story Group, in this role.
Transaction Details
As per the press release, Equity will be paying AU$500,000 for the acquisition of Blue Tree Equity Pty Ltd.
Trent McGraw, CEO, Equity Story said, “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.”
Meanwhile, the stock Equity Story last traded at AU$0.075 per share on the ASX.
