SmartSalary closes acquisition of SeQoya

The wholly-owned subsidiary of listed Paxys Inc. now owns two major Australian providers of in-house salary packaging software solutions as it concludes today the purchase of salary packaging software suite leader SeQoya Pty Ltd. In a disclosure, Paxys corporate information officer Christopher B. Maldia said Australia-based SmartSalary Pty Ltd. has bought SeQoya for A$1.2 million after completing the asset acquisition of Melbourne Systems Group Pty Ltd. “These acquisitions enhance SmartSalary's competitive position to uniquely offer both fully outsourced and in-house solutions in the Australian salary packaging industry. This allows SmartSalary to effectively expand its target customer base beyond that of its full-outsource model competitors," he added. SmartSalary is the second largest provider of outsourced salary packaging services in Australia. The acquisition of SeQoya will be fully funded through internal SmartSalary funds. -Ruby Anne M. Rubio, GMANews.TV