Rubik acquires internet banking firm

Perth-based Rubik Financial Limited today expanded its suite of internet bamking solutions through the acquisition of a Queensland company trading as The System Works (TSW).

TSW, which was established in 1988, accepted an offer of $8.69 million comprising of $5.7 million in cash and the remainder in shares.

Rubik, which is chaired by former Home Building Society Ltd chief executive Craig Coleman, also acquired phone and internet banking service company Swift Call Pty Ltd in 2007.