COG Financial Services (ASX: COG) has recently acquired salary packaging business, Paywise, and partially divested its FleetNetwork business to the EML Group.
This is the fourth acquisition COG has completed since January 2022, and this one will allow it to expand its novated lease offering to salary packaging, while the divestment will open up a new market for its financial services.
The EML Group has been providing a range of products and services to employers and their staff since 1910.
COG is currently the largest asset financing and aggregation group in Australia with an estimated 21% market share of broker originated asset finance lending.