Broker network Austbrokers has begun a six-month long negotiation period with IBNA in order to complete the acquisition of their broking arm, IBNA Broking.

Austbrokers chief executive officer Lach McKeough has been looking to expand the company after floating the company in November of last year. In a statement issued to the Australian Stock Exchange, Austbrokers says the plans to acquire certain assets from IBNA will see the company “providing the same services to IBNA members that IBNA already provides.”