Cuscal shares slide after completing $75m Indue acquisition
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The news: Shares in payment facilitation supplier Cuscal fell in afternoon trade after it completed its $75 million acquisition of Queensland-based rival Indue.
The numbers: At 3:44pm AEDT, shares in Cuscal slipped 4% to $3.83.
Cuscal expects the acquisition to deliver between $15 million and $20 million in annual run rate cost synergies by the end of FY29. When integration is complete, Cuscal estimates earnings per share accretion of over 25% and a return on invested capital above 20%.
Post-tax nonrecurring integration costs are expected to be between $25 million and $30 million over three years, which will be largely recognised in the first two years.
The context: The deal was announced on 22 August 2025 and was greenlit by competition watchdog ACCC on 24 October.
What they said: “The Acquisition is a highly compelling and strategic transaction that marks a significant milestone in Cuscal’s growth journey,” Cuscal managing director Craig Kennedy said.
“It will deliver substantial returns for our shareholders and enhanced outcomes for our clients via greater resilience, operational efficiencies, and innovation at scale.”
The source: ASX
