Amsterdam, the Netherlands – 2 July 2018 – Intertrust N.V. ("Intertrust" or "Company") [Euronext: INTER], a leading global provider of expert administrative services, today announces its expansion into Australia through the acquisition of Seed Outsourcing Pty Ltd ("Seed Outsourcing").
Seed Outsourcing is a boutique Australian corporate and fund services firm, providing corporate secretarial, director, domiciliation and payroll services to private equity and real estate fund managers. Intertrust has been working with Seed Outsourcing for more than five years, enabling its global clients to grow their business in Australia and New Zealand. Seed Outsourcing is based in Sydney and the team of six (6) employees, led by founder Stephen Tamas, will join Intertrust and work closely with its other offices going forward.
Announcing the acquisition, Daniel Jaffe, Managing Director of Intertrust's Rest of the World segment, said: "Having a dedicated Intertrust presence in Australia is important for our clients already investing or operating in the region or with plans to do so. We have already built a strong working relationship with Stephen and his team, and now have the opportunity to better serve our clients in Australia and New Zealand."
Stephen Tamas added: "This acquisition is a great opportunity for the Seed Outsourcing team, and testament to our partnership with Intertrust in recent years. We look forward to benefiting from Intertrust's extensive global network and broad services offering."
While this acquisition expands Intertrust's global footprint it does not have a material impact on the Company's financial position or results and the terms of the transaction are not disclosed. Australia will be included in the Rest of the World reporting segment.
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