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Financial services company InvestSMART Group (ASX: INV) is selling its Intelligent Investor business to Teaminvest Private Group (ASX: TIP) for $16 million in cash, in a deal that would hand TIP the well-known subscription newsletter along with the management rights to four ASX-listed active ETFs with combined funds under management of $280 million.
Intelligent Investor, which operates a paid newsletter with about 7,000 subscribers at an average revenue per user of $656, is forecasting combined revenue of $7.45 million in FY26.
This comprises $4.6 million from subscriptions and $2.85 million from funds management fees, with EBIT of between $2.7 million and $2.9 million.
InvestSMART says the consideration "crystallises value materially above" the company's current market capitalisation, with the cash consideration subject to adjustments for pre-paid subscriptions and other contractual liabilities. .
“Intelligent Investor began in 1999 and is one of the most respected investment newsletters in Australia," says InvestSMART CEO Ron Hidge.
"InvestSMART has spent the last 12 years growing the Intelligent Investor business including issuing four ASX listed active exchange traded funds and acquiring and integrating Eureka Report.
"TIP has indicated their commitment and focus to grow the newsletter and funds management business, including through the financial adviser market."
Hodge notes that the TIP funds management business follows the same value investing methodology as Intelligent Investor and "will be a perfect fit" for the group.
"The sale of Intelligent Investor will allow InvestSMART to focus on growing its wealth advice business through the InvestSMART platform, technology tools for investors with the addition of financial advisers," he says.
"We are committed to helping Australian grow and protect their wealth through their lifecycle.”
Proceeds of the sale are expected to position InvestSMART to pursue acquisitions and accelerate its platform strategy.
For TIP, the acquisition will add a direct-to-consumer brand to complement its existing wholesale and institutional value-investing operations.
“Intelligent Investor has been the premier retail focused value investing brand for well over 20-years," says TIP CEO Andrew Coleman.
"John Addis, Alan Kohler, Guarav Sodhi, Nathan Bell and the team have cultivated a premier position through consistent, detailed, research: and critically have changed the lives of tens of thousands of Australians.
"We at TIP are excited to work with the wonderful team of analysts, journalists and staff to change the lives of even more Australians through access to quality investing research and commentary.
"We think Intelligent Investor will find a wonderful long-term home in TIP, aligned with our mission of using proprietary, research driven, insights to create better investors and better business people.”
Coleman also sees the business's subscriber base and ETF management rights providing a scalable platform for growth.
The four Intelligent Investor ETFs subject to the deal collectively held $280 million in funds under management (FUM) as of the third quarter of FY26.
That figure is separate from TIP's own $271 million FUM pool reported at 31 December 2025, meaning a combined entity would oversee in excess of $550 million if both pools are maintained post-completion.
No expected completion date has been disclosed.
The transaction is conditional on InvestSMART shareholder approval, fund unitholder approval, TIP obtaining acceptable finance, completion of due diligence, regulatory approvals and ASX confirmation on re-listing requirements.
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