On 21st November 2016, Veris (formerly OTOC) announced to the ASX that it had signed a binding agreement to acquire all of the shares in Lester Franks. The existing Lester Franks management team will remain in place and all staff will be retained. Lester Franks shareholders will become shareholders in Veris under a cash and share deal.
This move is very good news for our two most important stakeholder groups: clients and employees, who now have access to greater capacity and capability Staff now have career opportunities unthinkable under the old model. We will now be an important part of a business that employs over 380 surveying personnel across all states of Australia, with access to capital, technology and markets that only come from scale.
Exciting times - that would be an understatement.