Purple Group, the JSE-listed owner of EasyEquities, is acquiring Telescope AI, the Australian start-up whose technology already powers the investment platform’s AI Baskets feature, in a deal worth up to US$10.75-million (R177-million).

Purple Group and EasyEquities operator First World Trader will each acquire 50% of Telescope AI from the Pettett Family Trust and three key staff members, giving the group full ownership of the business.

Telescope AI provides AI-powered investment discovery, research, technical analysis, conversational intelligence and compliance infrastructure to brokerages and trading platforms, including IG Group, CMC Markets, tastytrade, New Zealand’s Sharesies and EasyEquities. Its tools reach more than three million end users across seven jurisdictions and 13 languages, while its compliance layer, Guardrails, has completed more than 2.5 million checks globally.

The company was founded in 2023 by Luc Pettett, an ex-Microsoft engineer best known as the founder of Australian horseracing site Punters.com.au, which was acquired by News Corporation.

EasyEquities was Telescope AI’s first enterprise partner, launching the AI Baskets thematic investing tool on its platform in 2024. Purple Group said the acquisition will see Telescope AI’s full product suite rolled out across the group’s entire product stack, combining the start-up’s technology with client data and behavioural insights built up over more than a decade.

The group, which serves 1.3 million active clients with R100-billion in assets on its platform, said the deal also positions it to build a new enterprise revenue stream through Telescope AI’s global B2B partnerships.

Terms of the deal

Purple Group will pay $7-million on closing — $5-million in cash and $2-million through the issue of 19.1 million new Purple Group shares. A further $3.75-million in deferred consideration is payable over time: up to $2.75-million in five equal annual instalments, subject to Telescope AI’s operating cash outflows staying within agreed limits, and up to $1-million under a performance-based accelerator tied to milestones over five years. The deferred amounts may be settled in cash or shares at Purple Group’s election.

The price tag is striking relative to Telescope AI’s financials. According to unaudited management accounts for the six months to end-February 2026, the company had a net asset value of just A$495 000 (about R5.3-million) and posted an after-tax loss of A$88 000 — underlining that Purple Group is paying for the technology, the team and the enterprise client base rather than the balance sheet.

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The transaction is classified as a category 2 deal under the JSE listings requirements and therefore does not require shareholder approval. It remains subject to exchange control approval from the Reserve Bank, with a long stop date 90 days from the 10 July signature date. — © 2026 NewsCentral Media