Praemium Ltd Announces Technology Transition Phase
Key points
- Transition to new core technology platform planned for 2026
- Acquisition of Technotia Laboratories to enhance innovation
- Technology team restructured, reducing staff by over 70%
Full summary
Praemium Limited (ASX: PPS) announced a staged transition to a new core technology platform, set to launch later in 2026. This transition follows the acquisition of Technotia Laboratories in January 2026, aimed at embedding elite scientific capabilities into Praemium's technology function. The new platform, featuring a modern user interface, will support Praemium's next-generation wealth management capabilities. The technology team has been restructured, reducing staff from over 140 to approximately 40, with two Technotia founding principals transitioning to part-time consulting roles. Praemium has also revised incentive arrangements for these principals, including an initial $2.5 million cash payment and up to $7.5 million more, contingent on independent reviews.
Guidance
Revised incentive payments for Technotia principals, expected in CY26
Outlook
Praemium anticipates realizing full commercial potential from the new technology platform, with confidence in its enhanced capabilities.
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