The transaction has a target completion date of 1 September and is expected to be earnings accretive in FY22, with an estimated revenue contribution of $3 million this financial year.

Topdocs provides SMSF, corporate and trust documentation to accountants, financial planners, lawyers and other professional advisers. Class said its product suite is a natural fit and its services will be incorporated into Class’ NowInfinity platform, while accelerating the path of scaling NowInfinity. 

“Topdocs is a market leader in its segment and enjoys long-term relationships with its customers,” Class said in a statement.

“The Topdocs acquisition continues to grow Class’ market leadership position in this new market segment, following the acquisitions of NowInfinity in February 2020, Smartcorp in August 2020, and Reckon Docs in March 2021. Class now holds 18 per cent of the document and corporate compliance market.

“The acquisition will see Topdocs customers be transitioned onto the NowInfinity platform, with further integrations available across the entire Class portfolio of products.”

Class CEO Andrew Russell said Class has followed a strategic roadmap to grow its share of the corporate compliance and documentation market, and the Topdocs acquisition is another leap forward for the business following the company’s acquisitions of NowInfinity, Reckon Docs and Smartcorp.

“We look forward to providing Topdocs customers continued great service and support as well as an expanded product set,” Mr Russell said.

Topdocs managing director Jake Spakman added that Class has demonstrated its commitment to building the most comprehensive and robust document and compliance service in the market, and is excited that the Topdocs integration will be a part of that.

“Our customers will continue to receive the great service they are accustomed to, but with the additional benefits of access to a wider range of services and an industry-leading technology team,” Mr Spakman said.

“We are confident this transaction will really benefit Topdocs customers, the Topdocs team and the business.”